NYSE Euronext, IntercontinentalExchange Set New Closing Date for Merger
The wedding of NYSE Euronext with acquirer IntercontinentalExchange now has a new date. Following a postponement of the original November 4 target, the two companies said in a joint press release that their merger will be completed next Wednesday, November 13.
According to the pair, they now have all required regulatory approvals needed to complete the transactions.
NYSE Euronext stock will cease trading on November 12. The combined entity will then do business and trade under the IntercontinentalExchange name and ticker symbol.
This will bring a nearly one-year-old process to an end. Last December, IntercontinentalExchange launched it with a $33.12-per-share offer for its peer, in a transaction valued at roughly $8.2 billion. NYSE Euronext stockholders were given until October 31 to tender their shares for cash, IntercontinentalExchange stock, or a combination of both.
At the moment, NYSE Euronext has 243 million shares outstanding, and its stock most recently closed at $46.03 per share.
The article NYSE Euronext, IntercontinentalExchange Set New Closing Date for Merger originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends NYSE Euronext. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.