European commission approves NYSE takeover

PUBLISHED : Monday, 24 June, 2013, 10:11pm
UPDATED : Thursday, 27 June, 2013, 12:35am


BRUSSELS (AP) — The European Commission has approved InterContinental Exchange's proposed $8.2 billion takeover of NYSE Euronext, saying the two are not direct competitors in most markets and will continue to face strong competition.

The deal will give ICE control of London-based Liffe, Europe's second-largest derivatives market.

The combined ICE-NYSE Euronext would be the third-largest exchange group globally, behind Hong Kong Exchanges and Clearing and CME Group. The European Commission confirmed it approved the merger in an emailed statement Monday.