NYSE Sells to Rival Exchange for $8.2B
Iconic 220-year-old exchange sells to competitor
By Kevin Spak, Newser User
Posted Dec 20, 2012 7:55 AM CST
In this Oct. 29, 2012 file photo, the floor of the New York Stock Exchange is empty of traders in New York.   (AP Photo/Richard Drew, File)

(Newser) – InterContinentalExchange Inc. has agreed to buy NYSE Euronext, the company that owns the New York Stock Exchange, for $8.2 billion, the two companies announced this morning. ICE, an Atlanta-based commodity exchange, says it intends to leave the NYSE's branding alone, and would explore an IPO for Euronext, spinning it off into a continental European entity, the Wall Street Journal reports. It will pay $33.12 a share for the elder exchange, or about a 37% premium on yesterday's close.

You might remember ICE from its last attempt to buy the NYSE, which failed thanks to antitrust concerns from regulators. While the 12-year-old company may lack the name recognition of the iconic NYSE, it's much larger in terms of market capitalization, at $9.3 billion to NYSE Euronext's $5.8 billion—a sign, the New York Times observes, of how completely commodity trading has outpaced stock trading in relevance.

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Showing 3 of 3 comments
Arlekino
Dec 21, 2012 2:02 AM CST
I'm interested if this copany connected with adipex drugs ?
whattodo
Dec 20, 2012 10:11 AM CST
The DECLINE started well over 13 years ago, however since Obama came to power, this decline has accelerated to an almost headlong rush. GENERAL MOTORS is now all but owned by China, by joint ventures see this http://www.youtube.com/watch_popup?v=Lvl5Gan69Wo This means that GM will truly be Government Motors but CHINESE GOVERNMENT MOTORS. Naturally this Democratic (sic) Government is not willing to see this information openly broadcast by the Media. So USA in shape of OBAMA spent $80 TRILLION bailing out the Company only to see it wind up in a Partnership with TWO Chinese Companies. The Sale of NYSE had been mooted for some years so an announcement of this sale comes as no surprise.
HANKHILL
Dec 20, 2012 8:52 AM CST
and so begins the decline!