July 30 (Reuters) – Intercontinental Exchange said on Thursday it will acquire MarketAxess Holdings in a deal valued at $5.7 billion to expand fixed-income offerings. Under the agreement, ICE will buy all outstanding shares of the trading platform for $167 each in cash, the exchange operator said, which is a 33% premium to its previous […]
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Intercontinental Exchange to buy MarketAxess in $5.7 billion deal
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July 30 (Reuters) – Intercontinental Exchange said on Thursday it will acquire MarketAxess Holdings in a deal valued at $5.7 billion to expand fixed-income offerings.
Under the agreement, ICE will buy all outstanding shares of the trading platform for $167 each in cash, the exchange operator said, which is a 33% premium to its previous closing price.
“Together, we will build the fixed income ecosystem that investors have always deserved – one that is transparent, efficient, fully connected, and accessible to all,” ICE CEO Jeff Sprecher said in a statement.
Shares of MarketAxess have lost nearly 31% this year, and the company is valued at about $4.5 billion as of last close, according to LSEG.
(Reporting by Pritam Biswas in Bengaluru; Editing by Joyjeet Das and Vijay Kishore)