Slight Delay in ICE-NYSE Euronext Merger

InterContinentalExchange (ICE) and NYSE Euronext have postponed the proposed November 4th closing date for their merger as they await final approval from regulators, but the exchanges do not foresee any significant cause for concern.

Due to the cross-border structure of NYSE Euronext, the deal has required the approval of multiple regulatory bodies. The deal has already been approved by the SEC in the U.S. and the European Commission, but needs further approval from European regulators overseeing the individual markets that make up Euronext. The two exchanges noted in a statement that the Chairmen’s Committee of the Euronext College of Regulators indicated it is “not minded to object” the merger, so there should be approval on the horizon.

Once all the regulators approval the deal, as ICE and NYSE Euronext still expect, the exchanges say they expect the deal to close within two business days of the final approval.

While the closing date has been delayed, the election deadline for shareholders of NYSE Euronext to make merger consideration elections of stock and/or cash consideration will still be held at 5 p.m. ET on October 31, 2013.