IntercontinentalExchange (ICE) said the majority of NYSE
Euronext (NYX) shareholders have elected to receive stock in
connection with the exchange operators' pending merger.
ICE and NYSE said the deal is expected to be effective within
two days after receiving final regulatory approval, which it
expects to receive in the coming days.
Earlier this week, ICE pushed back the date it intends to close
on the NYSE deal to provide European regulators more time to sign
off on the deal. The approvals from European regulators are the
final step in securing a deal valued at about $10 billion that
would create a new exchange giant, running one of the world's
largest derivatives franchises and the U.S. stock-market business
of the New York Stock Exchange. Previously, ICE had expected the
merger would close on Nov. 4.
NYSE shareholders could elect one of three preferences as to the
form of merger consideration they would receive in the deal.
Based on Thursday's election deadline, shareholders holding
about 82% of NYSE's shares elected the stock option. Because that
choice was substantially oversubscribed, ICE said the consideration
will be prorated.
Stockholders who own about 3% of NYSE shares elected the
standard consideration, for which they will a combination of cash
and stock. Stockholders owning about 0.4% of shares elected to
receive the cash option.
Stockholders owning about 15% of shares failed to make a valid
election and will receive a combination of cash and stock.
Write to Nathalie Tadena at nathalie.tadena@wsj.com
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