Intercontinental Exchange Inc. (ICE) is buying rival exchange,
The New York Stock, Exchange (NYSE) for a little over $8 billion.
For $33.12 a share, ICE will acquire the NYSE in the second
half of 2013.
CEO Jeffrey Sprecher of ICE says that he believes that the
sale of NYSE will be helpful in serving customers by uniting their resources.
ICE is stationed in Atlanta and will now have dual
headquarters in both Atlanta and in New York.
The buying of the NYSE will help ICE cut costs and boost its
earnings by 15 percent within one year of the deal.
No comments:
Post a Comment