Anatole
09-18-2006, 04:08 PM
The IntercontinentalExchange Inc. has agreed to buy Nybot in a cash and stock deal worth $1 billion.
IntercontinentalExchange Inc. plans to buy the New York Board of Trade in a $1 billion cash and stock deal, company officials said Thursday evening.
The offer for NYBOT, an exchange dealing in commodities such as coffee, cocoa and orange juice, will comprise 10.3 million shares of ICE, an Atlanta-based electronic energy marketplace, and $400 million in cash. NYBOT members are scheduled to meet Friday to discuss the proposal, according to a published report.
"The combination of two global and rapidly growing commodity marketplaces, together with a highly respected clearinghouse, allows us to expand ICE's offerings for market participants, as well as create long-term shareholder value," Jeffrey Sprecher, ICE's chairman and chief executive, said in a statement. "We look forward to working together with the floor community to expand NYBOT's product offering and customer base."
http://www.marketwatch.com/news/story/Story.aspx?guid=%7BD26E2BF2%2DB46B%2D4305%2DAE90%2 D5B41F8CF32F2%7D&siteid=
IntercontinentalExchange Inc. plans to buy the New York Board of Trade in a $1 billion cash and stock deal, company officials said Thursday evening.
The offer for NYBOT, an exchange dealing in commodities such as coffee, cocoa and orange juice, will comprise 10.3 million shares of ICE, an Atlanta-based electronic energy marketplace, and $400 million in cash. NYBOT members are scheduled to meet Friday to discuss the proposal, according to a published report.
"The combination of two global and rapidly growing commodity marketplaces, together with a highly respected clearinghouse, allows us to expand ICE's offerings for market participants, as well as create long-term shareholder value," Jeffrey Sprecher, ICE's chairman and chief executive, said in a statement. "We look forward to working together with the floor community to expand NYBOT's product offering and customer base."
http://www.marketwatch.com/news/story/Story.aspx?guid=%7BD26E2BF2%2DB46B%2D4305%2DAE90%2 D5B41F8CF32F2%7D&siteid=