NYSE Euronext (NYX) Investor Lawsuit to Halt the Buyout by
IntercontinentalExchange Announced by Shareholders Foundation
SAN DIEGO, CA -- (Marketwire) -- 01/02/13 -- The Shareholders
Foundation, Inc. announces that an investor in NYSE Euronext (NYX)
shares filed a lawsuit to stop the proposed takeover of NYSE Euronext
by IntercontinentalExchange at a value of $33.12 per NYX share.
If you purchased shares of NYSE Euronext (NYX) prior to December 10,
2012 and currently hold any of those NYX shares, you have certain
options and you should contact the Shareholders Foundation, Inc. at
email@example.com or call +1 (858) 779-1554.
On December 20, 2012, IntercontinentalExchange (ICE), and NYSE
Euronext announced an agreement for IntercontinentalExchange to
acquire NYSE Euronext in a stock-and-cash transaction. Under the
terms of the agreement the transaction is currently valued at $33.12
per NYSE Euronext share.
However, the plaintiff alleges that the offered price that is too low
and undervalues the company. In fact, so the complaint, the now
offered price is approximately $3 billion less than what the
IntercontinentalExchange offered in its joint bid with Nasdaq OMX
In addition, so the plaintiff, the proposed deal was based on a
flawed process designed to ensure the sale of NYSE Euronext to
IntercontinentalExchange on terms preferential to
IntercontinentalExchange and designed to benefit NYSE Euronext's
insiders, but detrimental to the plaintiff and the other public
stockholders of the NYSE Euronext. The plaintiff says that as part of
the Merger Agreement, certain defendants agreed to the typical
buyer-friendly deal terms, including a termination fee ranging from
$300 million to $450 million and a "no solicitation provision" that
decrease the chance that a competing bidder emerges.
Those who currently are investors in NYSE Euronext (NYX) shares and
purchased their shares before the announcement have certain options
and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal
monitoring and settlement claim filing service, which does research
related to shareholder issues and informs investors of securities
class actions, settlements, judgments, and other legal related news
to the stock/financial market. The Shareholders Foundation, Inc. is
not a law firm. The information is provided as a public service. It
is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
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