New York Stock Exchange Sold

By: Associated Press
By: Associated Press

NEW YORK (AP) -- The New York Stock Exchange is being sold to a rival exchange for about $8 billion, ending more than two centuries of independence for the iconic Big Board.

IntercontinentalExchange Inc., an upstart exchange based in Atlanta, said Thursday that NYSE Euronext Inc. shareholders can chose to receive either $33.12 in cash, .2581 IntercontinentalExchange Inc. shares, or a combination of $11.27 in cash plus .1703 shares of stock.

The deal has been approved by the boards of both companies, but would have to be approved by regulators.

Last year, IntercontinentalExchange and Nasdaq OMX Group Inc. made a failed $11 billion bid to buy NYSE Euronext.

Earlier this year, European regulators blocked Deutsche Boerse AG from buying NYSE Euronext.


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