ICE-NYSE Deal Formally Notified to EU for Merger Examination
IntercontinentalExchange Inc. (ICE) formally sought European Union approval for its plans to buy NYSE Euronext 15 months after regulators blocked Deutsche Boerse (DB1) AG’s acquisition of the New York Stock Exchange operator.
The EU regulator said last month it would review the exchange’s plans after national regulators didn’t object to it taking the lead. The formal filing by ICE was made on May 17 and triggered an initial deadline of June 24 for the EU to rule on the deal, the European Commission said on its website today.
ICE agreed on Dec. 21 to acquire NYSE Euronext for cash and stock totaling $8.2 billion at the time. EU regulators vetoed Deutsche Boerse’s purchase of NYSE last year, citing concern over competition in derivatives and clearing.
ICE, the energy and commodity futures bourse, said in March that it sought an EU review of its acquisition to avoid separate probes in the U.K., Spain and Portugal.
Brookly McLaughlin, a spokeswoman for Atlanta-based ICE, and Caroline Tourrier, a spokeswoman for NYSE Euronext (NYX) in Paris, didn’t immediately respond to a call and e-mail seeking comment.
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