Thanks Gale Stark; After steering NYSE through the sale process, Niederauer will stay on as CEO of the NYSE Group and also serve as president of ICE under Sprecher, who will remain chairman and CEO. The deal closure follows a slight delay as the companies waited for final approval from regulators in Europe. It also comes after NYSE’s sale to Germany’s Deutsche Borse collapsed in 2011 due to antitrust concerns. During those negotiations, ICE teamed up with Nasdaq OMX Group (NDAQ) to make a joint bid for NYSE, but that deal also fell apart amid regulatory concerns. The combined companies will continue to trade on NYSE, but now under the ticker symbol “ICE.” NYSE and ICE said they will be dual-headquartered in New York and Atlanta. They announced four members of the NYSE board have joined the expanded ICE board: Sylvain Hefes, Jan-Michiel Hessels, James McNulty and Robert Scott. ICE reiterated it plans to pursue an initial public offering of Euronext in 2014. Shares of ICE ticked up 0.46% to $198.70 Wednesday morning, extending its 2013 surge to 60.4%. Related Stocks NDAQ 35.89 NASDAQ OMX G... +0.04 Related StoriesStarbucks Restates 4Q Results, Sees $2B LossWall Street Bids Macys 8% Higher on 3Q BeatTreasury Sold $1.2B Worth of GM Shares in October ...read more More from Fox Small Business Saturday foxbusiness/industries/2013/11/13/done-deal-ice-seals-takeover-new-york-stock-exchange/
Posted on: Wed, 13 Nov 2013 19:00:53 +0000
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