NEW YORK ( TheStreet) - IntercontinentalExchange (ICE) has offered to buy NYSE Euronext (NYX) for $33.12 a share, in a deal that may test whether antitrust regulators allow for the consolidation of financial exchanges after blocking a previous ICE bid for NYSE Euronext, and the exchange's proposed merger with Deutsche Boerse of Germany earlier in 2012.
The terms rebut speculation an acquirer of NYSE Euronext would have zero interest in NYSE's U.S. stock exchange business amid unrelenting market share losses. But while the deal's structure appears bullish on U.S. equity markets, in the long run, the prospective merger still may have little to do with NYSE's iconic big board and its equity exchange that traces back to 1792.
In a statement released on Thursday morning, ICE said it will pay $33.12 a share for NYSE Euronext, in a deal that values the exchange operator at $8.2 billion and is roughly a 37% premium to Wednesday closing share prices.
The deal will be financed with a mix of roughly 67% stock and 33% cash, a press release states. That is contrary to previous reports that a merger would be mostly debt financed.As part of the deal, ICE said it would explore the possibility of listing Euronext on European markets, if regulators were to support the proposed transaction.
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