Summary
Intercontinental Exchange, Inc. (ICE) announced on September 10, 2014, that it has entered into a definitive agreement to acquire Super Derivatives, Inc. in a cash merger transaction. The aggregate purchase price for this acquisition is set at $350 million, subject to customary adjustments related to Super Derivatives' debt, cash, net working capital, and transaction expenses. This strategic acquisition is expected to enhance ICE's capabilities in its rapidly growing fixed income and data services segment. Super Derivatives, a provider of financial risk management and derivatives trading solutions, aligns with ICE's ongoing expansion into technology and data services for financial markets. The transaction is subject to standard closing conditions, including antitrust approvals under the Hart-Scott-Rodino Act.
Key Highlights
- 1ICE has entered into a definitive Agreement and Plan of Merger to acquire Super Derivatives, Inc.
- 2The acquisition price is set at an aggregate of $350 million in cash, subject to adjustments.
- 3Super Derivatives is being acquired to bolster ICE's fixed income and data services offerings.
- 4The transaction is structured as a merger, with Super Derivatives becoming a wholly-owned subsidiary of ICE.
- 5Consummation of the merger is contingent upon customary closing conditions, including antitrust review (Hart-Scott-Rodino Act).
- 6ICE shareholders' approval is not required for this transaction.