Updated at: 11/13/2013 12:05 PM
(AP) NEW YORK - IntercontinentalExchange has closed on its acquisition of NYSE Euronext.
IntercontinentalExchange, a futures exchange based in Atlanta, reached a deal to buy NYSE Euronext in December in a cash-and-stock deal then worth about $8 billion. ICE valued the deal for the parent of the New York Stock Exchange at about $11 billion based on the Nov. 1 closing price of its shares.
The sale was expected to close Nov. 4, but was delayed because some European regulatory agencies hadn’t approved it yet.
The European Commission approved the deal in June, and the U.S. Securities and Exchange Commission did so in August.
Four NYSE Euronext directors are joining ICE’s board, which is expanding to 14 members. The directors include Sylvain Hefes, Jan-Michiel Hessels, James J. McNulty and Robert G. Scott.
ICE was founded in 2000 and has expanded rapidly through acquisitions. The combined company operates 16 global exchanges and five central clearing houses, and will be the third-largest exchange group globally, behind Hong Kong Exchanges and Clearing and CME Group Inc., parent of the Chicago Board of Trade and the New York Mercantile Exchange.
IntercontinentalExchange Inc. and NYSE Euronext are now subsidiaries of IntercontinentalExchange Group Inc.
ICE CEO Jeffrey Sprecher is now chairman and CEO of IntercontinentalExchange Group. Duncan Niederauer will be continue serving as CEO of the New York Stock Exchange, and now has the added title of ICE president.
ICE said that it plans to pursue an initial public offering for the Euronext group of Continental European exchanges. NYSE Euronext shares, which traded under the symbol "NYX" were discontinued.
The company will have headquarters in Atlanta and New York.
Shares of ICE added $1.43 to $199.23 in midday trading on Wednesday.
(Copyright 2013 by The Associated Press. All Rights Reserved.)