NYSE-Euronext is a 220-year-old icon of global finance, but its 12 year-old Atlanta-based rival, IntercontinentalExchange (ICE) will buy it for $8.2 billion, according to a deal that has just been announced.
This revelation surprised a lot of people on the Street who thought all the exchange horse trading of 2010-2011 was over. In 2011, for example, the Justice Department blocked ICE and NASDAQ’s attempt to buy the NYSE.
was also stopped from merging with Germany’s Deutsche Borse.
Since 2010, $32 billion worth of attempted exchange merger/purchase deals have failed.
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