The NYSE Euronext and IntercontinentalExchange (ICE) are delaying the closing of their proposed merger to give European regulators more time to sign off on the deal.
ICE and NYSE Euronext said Thursday they have postponed the closing of their merger from November 4, to a later date, which has yet to be announced. the exchanges say that the delay will “allow additional time for relevant European regulators and ministries to process and issue their approvals.”
The exchanges have already received a letter from the Chairmen’s Committee of the Euronext College of Regulators, indicating that it is “not minded to object” to ICE’s proposed acquisition of the NYSE. However, they are still waiting for approval from each national regulator.
The firms say they expect to receive those approvals in the coming days, and that they anticipate closing the proposed transaction within two business days after they get final regulatory approval.
“Neither ICE nor NYSE Euronext anticipates any substantive issues being raised in the context of these remaining European national approvals,” they say.