 |
Louisiana Light • 2 days | 73.02 | -0.64 | -0.87% | ||
|
Bonny Light • 31 days | 78.62 | -2.30 | -2.84% | ||
|
Opec Basket • 2 days | 73.65 | +0.08 | +0.11% | ||
|
Mars US • 321 days | 75.54 | -1.36 | -1.77% | ||
|
Gasoline • 10 mins | 2.051 | -0.009 | -0.43% |
|
Bonny Light • 31 days | 78.62 | -2.30 | -2.84% | ||
|
Girassol • 31 days | 79.56 | -1.80 | -2.21% | ||
|
Opec Basket • 2 days | 73.65 | +0.08 | +0.11% |
|
Peace Sour • 14 hours | 66.88 | -0.08 | -0.12% | ||
|
Light Sour Blend • 14 hours | 66.13 | -0.08 | -0.12% | ||
|
Syncrude Sweet Premium • 14 hours | 70.88 | -0.08 | -0.11% | ||
|
Central Alberta • 14 hours | 67.88 | -0.08 | -0.12% |
|
Eagle Ford • 2 days | 67.39 | -0.28 | -0.41% | ||
|
Oklahoma Sweet • 2 days | 67.50 | -0.25 | -0.37% | ||
|
Kansas Common • 3 days | 58.02 | +1.10 | +1.93% | ||
|
Buena Vista • 3 days | 77.67 | +1.10 | +1.44% |
Breaking News:
Japan’s Firms Earn $57 Billion in Latest Divestment Spree
Japan’s listed companies, many of…
LNG Industry Faces Uncertain Future
The liquefied natural gas (LNG)…
200 Year Old NYSE to be Bought for $8.2 Billion
The operator of the world famous New York Stock Exchange (NYSE), NYSE Euronext, has today agreed to be sold to IntercontinentalExchange (ICE) in an $8.2 billion deal.
ICE, which is only 12 years old but already runs several other international trading exchanges in the commodities and derivatives markets, will pay $33.12 a share for the NYSE operator, a premium of 38% above Wednesday’s closing price.
Two thirds of the purchase will be paid for in stock and one third in cash. The deal has been unanimously approved by both boards, and now just awaits shareholder and regulatory approval.
Due to the fact that derivatives and options markets are becoming much more important than stock trading markets, ICE has a larger market value than NYSE Euronext, which means that the merger will not take place on equal terms; the 200 year old NYSE will lose its independence and become part of ICE.
Related Article: The Fiscal Cliff and its Effect on Oil Markets
Jeffrey Sprecher, the CEO and Chairman of ICE, will retain his role in the new company, and Duncan Niederauer, the Chairman and CEO of NYSE Euronext, will become the president of the new company.
This offer is not he first proposed by ICE. Back in 2011 ICE made a joint proposal with NASDAQ for an $11 billion hostile bid, but NYSE rejected the deal.
Share prices for NYSE Euronext rose by 32% on the back of the deals announcement, whereas shares in ICE fell by 2%.
ADVERTISEMENT
By. James Burgess of Oilprice.com
James Burgess
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
