- NYSE Euronext shareholders will own approximately 36% of ICE shares post-transaction.
- The cash portion of the transaction will be funded by a combination of cash on hand and existing ICE credit facilities.
- The transaction is expected to close in the second half 2013, subject to regulatory approvals in Europe and the U.S. and approval by shareholders of both companies.
- The majority of run-rate expense synergies of $450 million are expected to be achieved in the second full year post-closing.
- Earnings accretion of greater than 15% is expected in the first year post-closing.
- As a result of the transaction, ICE clearing will be more capital efficient and provide operational efficiencies for clearing members.
- ICE is committed to preserving the NYSE Euronext brand. ICE will maintain dual headquarters in Atlanta and New York. New York headquarters will be located in the Wall Street building, home to the iconic trading floor. ICE will also open a new midtown Manhattan office in June 2013.
- ICE is also committed to maintaining the position of NYSE Liffe in London as a leading international market operator for derivatives products, including its benchmark interest rate complex.
- ICE intends to explore an initial public offering of Euronext as a Continental European-based entity following the closing of the acquisition if market conditions and European policy makers support the offering.
- Jeffrey C. Sprecher will continue as Chairman and CEO of the combined company and Scott A. Hill as CFO. Duncan L. Niederauer will be President of the combined company and CEO of NYSE Group. Four members of the NYSE Euronext Board of Directors will be added to the ICE Board of Directors which will be expanded to 15 members.
IntercontinentalExchange To Acquire NYSE Euronext For $33.12 Per Share In Stock And Cash, Creating Premier Global Market Operator
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