New York Board of Trade (Nybot) members last week approved
the proposed merger with Intercontinental Exchange (ICE) in a
deal that would give ICE its own clearinghouse as well as softs
and financial products.
The deal was approved by 93% of the Nybot members who voted.
The transaction would consist of approximately 10.29m shares of
ICE common stock and $400m in cash. Upon closing, Nybot would
become a wholly-owned subsidiary of ICE and a for-profit
corporation. The exchanges said they expected to close the deal
in early 2007, pending regulatory approvals.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.