Politically, 2013 was the year of snatching defeat from the jaws of victory. First the GOP followed the direction of Junior Senator Ted Cruz (R Tex.) down a dark alley in a fight they were guaranteed to lose, and, then with the GOP on the ropes, the President and his team botched the roll-out of the Affordable Care Act website. In the markets all eyes were on Federal Reserve mainly because Congress abdicated all responsibility for moving the economy forward to Ben Bernanke, who finally signaled the beginning of the end of QE3.
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. completed its purchase of NYSE Euronext at the close of today’s trading session, and its chief executive officer said the deal will usher in a swift shift to a more aggressive culture at the 221-year-old owner of the New York Stock Exchange.
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.