Stocks rose on Tuesday, with a potential trans-Atlantic corporate takeover boosting sentiment already buoyed by a growing conviction that the first rise in U.S. interest rates since 2006 won't come until after the summer.
IntercontinentalExchange Group announced the successful completion of its previously announced acquisition of Singapore Mercantile Exchange, following regulatory approval by the Monetary Authority of Singapore (MAS).
A revival in M&A activity has been much anticipated and discussed almost since the start of the global financial crisis five years ago. With few exceptions, boosts in deal making have proven unsustainable.
IntercontinentalExchange Group, Inc. announced the successful completion of its previously announced acquisition of NYSE Euronext. The stock-and-cash transaction has a total value of approximately $11 billion.
IntercontinentalExchange Inc. is further along with its integration plan for NYSE Euronext than expected 10 months after announcing the $8.2 billion deal, according to Chief Executive Officer Jeff Sprecher.