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ICE to Acquire NYSE Euronext for $8.2 Billion; NYX Shares Soar (NYX)
Shares of stock exchange operator NYSE Euronext (NYX
) surged higher in premarket trading Thursday, following overnight reports that futures exchange operator Intercontinental Exchange (ICE) was looking to acquire NYX.
Reports peg the asking price at around $33 per share, which represents a 37% upside to the stock’s Wednesday closing price of $24.05. Word hasn’t yet broken on how ICE would fund the approximately $8 billion deal.
The Wall Street Journal originally reported that talks were progressing quickly, while Reuters broke the approximate price of the acquisition.
UPDATE: (8:31am EST) The companies confirm the deal is worth $33.12 per share, for a total of $8.2 billion.
NYSE Euronext shares rose $5.15, or +21%, in premarket trading Thursday.
The Bottom Line
Shares of NYSE Euronext (NYX) have a 4.99% dividend yield, based on last night’s closing stock price of $24.05. If you are a long-time shareholder of the stock, the buyout is little reward for where the stock had been trading years back.
NYSE Euronext (NYX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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