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Stock Market & Financial Investment News

News Breaks
December 21, 2012
12:59 EDTNYX, ICEICE to pay NYSE $750M if merger fails to gain antitrust clearance
In an SEC filing earlier this morning, potential penalties and other stipulations for both parties in the proposed IntercontinentalExchange (ICE) and NYSE Euronext (NYX) merger were outlined. Under the merger agreement, neither NYSE Euronext nor ICE may solicit competing proposals or, subject to exceptions that permit their respective boards of directors to take actions required by their fiduciary duties, participate in any discussions or negotiations regarding alternative business combination transactions. Either NYSE Euronext or ICE may terminate the merger agreement under certain specified circumstances, including if its respective board of directors determines in good faith that it has received a ôsuperior proposal," and the party that is not entering into the superior proposal will be entitled to a fee of $300M. In addition, in the event that either the NYSE Euronext board or the ICE board changes it recommendation under the terms of the merger agreement other than for a superior proposal, then the party changing its recommendation must pay the other $450M. In the case of a failure to obtain required antitrust clearances or regulatory approval prior to the termination date and subject to certain other conditions, the merger agreement provides for ICE to pay NYSE Euronext a $750M fee upon termination.
News For ICE;NYX From The Last 14 Days
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October 2, 2015
06:25 EDTICENYSE 'prepared' for possibility of hurricane hitting East Coast, Reuters reports
NYSE says it is "prepared" for the possibility of Hurricane Joaquin hitting the U.S. East Coast, Reuters reports. The exchange operator says it will invoke disaster recovery procedures "if necessary" in order to maintain functions for trading and operations. Hurricane Joaquin strengthened into a Category 4 hurricane on Thursday, according to the U.S. National Hurricane Center. Reference Link
September 30, 2015
18:36 EDTICEBATS to pay companies to list exchange-traded funds, WSJ says
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September 22, 2015
07:34 EDTICEDenver Gold Group to hold a forum
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