News

New York Stock Exchange Sold to Upstart Rival for $8.2 Billion

NYSE Euronext Intercontinental Exchange ICE

After 200-plus years of independent operation, the New York Stock exchange will be sold to an upstart rival for $8.2 billion.

The rumored acquisition is a done deal, according to this morning’s official press release.

Atlanta-based IntercontinentalExchange will buy NYSE Euronext for $33.12 per share in stock and cash.

According to the New York Times:

The takeover signals the revival of consolidation within the world of market operators, after a wave of deals dissipated amid concerns over antitrust and nationalist sentiment.

In 2011 IntercontinentalExchange partnered with Nasdaq OMX Group in a failed $11 billion hostile bid to take over the exchange. And earlier this year, “European regulators blocked Deutsche Boerse AG from buying NYSE Euronext,” reports AP.

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