Cramer Quick Take: NYSE-ICE Deal Is a Good One
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NEW YORK (TheStreet) -- The acquisition of NYSE Euronext (NYX), parent of the New York Stock Exchange, by the Intercontinental Exchange (ICE) is a good one, Jim Cramer told Debra Borchardt at TheStreet.com Thursday. He said the merger creates a powerful company at a time when scale means everything.
Cramer said that on one hand it's ironic that ICE, a 12-year-old upstart, is able to buy one of America's most iconic companies. But on the other hand the action is in derivatives and that's why ICE is valued higher than NYX.
He said that only those at Nasdaq OMX (NDAQ), parent of the Nasdaq, are likely not happy with the deal, as it, too, will need to grow in order to keep pace.
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