Merger of bourse operators soon to occur
The NYSE Euronext and the IntercontinentalExchange Inc announced last Wednesday that the two are nearing ICE's completion of its proposed takeover of the Big Board operator. This comes as the major stumbling block, the consent of a European regulatory group, had been obtained with an assurance that no objections would be filed for the move.
Both ICE and NYSE confirmed the receipt of a letter from the Chairmen's Committee of Euronext Regulators to indicate that they are 'not minded to object' to project currently valued at nearly USD10.6 billion.
There are still a number of final approvals that need to be obtained from national authorities and regulatory agencies as to the applicable European jurisdictions. The Euronext unit of the New York Stock Exchange would be the jump off point for the new entity upon completion of a deal has been completed that would include other bourses in Paris, Amsterdam. Brussels and Lisbon.