European antitrust regulators have lodged no objections to IntercontinentalExchange Inc's takeover of NYSE Euronext as a decision on the transaction approaches.
While formal approval of the deal, which would give ICE control of NYSE’s Liffe derivatives exchange in London, hasn’t been issued, antitrust officials have communicated no opposition to the companies, according to a person, who asked not to be identified because the review is private. A decision from the European Commission is expected by June 24. Shareholders of both companies approved the transaction, which values NYSE at $10.2 billion, on June 3.
Kelly Loeffler, spokeswoman for ICE, and Richard Adamonis, spokesman for the NYSE, declined to comment on the approval process. Antoine Colombani, a spokesman for the European antitrust watchdog, declined to comment. Reuters reported earlier that regulators were poised to clear the deal.
European regulators last month asked users if ICE’s plan to buy NYSE Euronext would reduce competition in soft-commodities markets amid concern among traders over fees and trading hours. The European Commission sought feedback on the impact for derivatives on cocoa, coffee, sugar and rapeseed and US equity-index futures.
Full article
© Bloomberg
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article