IntercontinentalExchange Inc had said it is expecting the completion of the NYSE Euronext acquisition in the next four weeks as the two exchanges exert pressure on European regulators to decide on the final approval of the merger.
ICE plans to complete the deal on or before November 4, according to a statement issued today. The commodities and energy future bourse, known as ICE is purchasing the 220 year old exchange operator as the equities trading profitability fell and derivatives in turn generate more income for the operator.
The European Union had approved the takeover last June 24. On October 2, ICE said that a committee of European regulators is 'not minded to object' to the merger.
In an advisory made by RCBC Capital Markets Analyst Peter Lenardos to their investors, he said, "The parties are now awaiting final approvals from the national authorities and regulatory bodies in each of the relevant European jurisdictions in order to complete the transaction. Since key approvals from the European Commission, the SEC and the Committee of European Regulators have been received, we expect the outstanding approvals to be granted and the deal to close as indicated."
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