ICE, NYSE Euronext tweak merger structure
March 19 (Reuters) - IntercontinentalExchange has revised the structure of its proposed acquisition of NYSE Euronext to help the deal get regulatory approval.
ICE will acquire NYSE Euronext under a newly formed holding company, ICE Group, the Atlanta-based exchange said in a regulatory filing on Tuesday. ()
ICE announced in December it had agreed to buy NYSE Euronext for $8.2 billion. The deal is currently being vetted by European and U.S. regulators.
Under the new structure, both ICE and NYSE Euronext will become units of ICE Group. Each share of ICE common stock will be converted into the right to receive one share of the new holding company.
Following the deal's close, ICE Group's stock will be listed on the New York Stock Exchange under ICE's current stock symbol "ICE".
The terms of the agreement, including consideration to be paid to NYSE Euronext shareholders, are substantially the same, ICE said in the filing.