Summary EC has approved InterContinental Exchange's proposed $8.2 billion takeover of NYSE Euronext.
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.
