Futures exchanges manager IntercontinentalExchange (ICE) has inked a definitive agreement to acquire NYSE Euronext in a stock-and-cash transaction, valued at nearly $8.2bn.
Integration of the two exchange groups will create a global exchange operator diversified across markets including agricultural and energy commodities, credit derivatives, equities and equity derivatives, foreign exchange and interest rates.
The deal has already been approved by the board of directors of both firms and is expected to complete during the second half of 2013, subject to regulatory approvals in Europe and the US as well as by shareholders of both companies.
Following completion of transaction, the acquirer will continue to maintain the NYSE Euronext brand and operate from dual headquarters in Atlanta and New York.
Jeffrey C Sprecher will serve as chairman and CEO of the integrated business enterprise and Scott Hill as CFO, whereas Duncan Niederauer will assume the role of president and CEO of NYSE Group.
Morgan Stanley acted as principal financial advisor to ICE, while further financial advice is being offered by BMO Capital Markets, Broadhaven Capital Partners, JPMorgan, Lazard, Societe Generale Corporate & Investment Banking, and Wells Fargo Securities.
Sullivan & Cromwell and Shearman & Sterling served as the legal advisors to ICE.
Perella Weinberg Partners and BNP Paribas acted as lead financial advisers, while Wachtell, Lipton, Rosen & Katz, Slaughter & May, and Stibbe offered legal advice to NYSE Euronext.