ICE to Acquire New York Trade Board
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The move will allow Intercontinental Exchange to expand into nonenergy commodities for the first time.
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International Management Group, a sports and celebrity management and marketing firm that has represented Tiger Woods, Joe Montana and Derek Jeter, is being sold to a New York buyout specialist firm in a cash deal valued at more than $700 million.
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The Carlyle Group is in talks with Booz Allen Hamilton to purchase the technology and consulting firm's government business, according to a source familiar with the negotiations.
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The New York Stock Exchange and the Tokyo Stock Exchange announced a partnership yesterday to work together on developing trading technology and financial products in what could be the first step toward a merger of the world's two biggest equities markets.
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(InfoWorld) - The Nasdaq Stock Market's efforts to buy the London Stock Exchange PLC is another milestone in globalization, and touches the world of IT. As exchanges merge and increase the fluidity of funds globally, a new world of competitive options open. The Nasdaq's latest bid, launched Nov. 20, to buy the part of the LSE it doesn't already own for Â£2.7 billion ($5.1 billion) is poignant in its historic and political overtones. The Nasdaq tapped technology to match buyers and sellers -- starting with simple bulletin boards -- and helped revolutionize trading over the last 20 years. As world class IT companies like Microsoft and Oracle went public on the Nasdaq, the exchange rode the computerization of modern life to great success. Most exchanges have adopted some form of electronic trading, including Nasdaq archrival the New York Stock Exchange (NYSE Group Inc.) and the LSE itself. Exchanges have unique advantages and retain distinct personalities, however. Linux vendor Red Hat Inc., for example, will move from the Nasdaq to the NYSE Tuesday. "The New York Stock Exchange has much stronger global recognition, and we're looking for a global branding image," said Linda Brewton, Red Hat manager of investor relations. She also noted that even though the NYSE has adopted electronic trading, trading is still done under live market specialists and that this reduces share-price volatility. The LSE, which traces its history back some 300 years, has rejected Nasdaq's bid, claiming it undervalues the exchange. The mercurial mayor of London, Ken Livingstone, is also on the case. Last week he asked the U.K.'s Office of Fair Trading to investigate, claiming that the acquisition would eliminate competition to U.S. markets for international company listings. Livingstone also echoed the concerns of many Europeans, that as U.S. exchanges merge with European markets, tighter U.S. regulations would hamper Europe's growing market competitiveness. This last issue has also caused bumps in the NYSE's deal to merge with the Euronext NV exchange. Nasdaq, having already bought about 29 percent of the LSE earlier this year, is appealing to shareholders. Nasdaq Chief Executive Officer Robert Greifield apparently believes the exchange needs the merger to compete. The merging of exchanges and the broader, growing numbers of mergers and acquisitions that IT companies are involved in are part of the same phenomenon, according to according to Eric Gebaide, managing director of Innovation Advisors, a New York investment firm. "It's a manifestation of the globalization of financial markets," Gebaide said. "That in turn is a precursor of the globalization of technology." When companies in Europe and Asia enjoy the same sort of availability of capital U.S. companies have, it can lead to greater competition for U.S. companies. However, U.S. companies can also take advantage of the new era of capital. For example, U.S. companies looking to efficiently use capital now have access to alternative local financing for offshore ventures, Gebaide notes. In the new global market, companies can even go public with offshore ventures, he suggests. The Nasdaq bid will probably play out into 2007. The offer to shareholders can be extended to 60 days, and the Nasdaq can still buy LSE shares on the open market. But no matter how it ends, the internationalization of capital markets will continue to have a profound impact.
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NYSE Euronext said on Thursday that it had agreed to acquire the American Stock Exchange for $260 million in stock.
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The New York Times reports this morning that a deal is imminent between Liberty Media chairman John Malone and News Corp. chairman and CEO Rupert Murdoch, in which Malone will acquire one of Murdoch's prize assets - satellite service provider DirecTV - in exchange for Malone's 19% voting stake, plus 15% non-voting stake, in News Corp.
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IBM (NYSE: IBM) has said it will purchase Venetica, a privately held firm that provides content-integration software to unstructured data sources.
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Global Tower Partners, a U.S. wireless tower operator, is to be bought by a consortium of infrastructure funds managed by members of Australia's Macquarie Group.
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NYSE Euronext  said on Thursday it agreed to acquire the American Stock Exchange (Amex) for $260 million in stock to boost its business in options, exchange traded funds and cash products.
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U.S. electronic stock market Nasdaq   has agreed to buy Nordic markets owner OMX   for $3.7 billion, as Nasdaq seeks to expand abroad following a  series of rival stock market mergers.
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Euronext  shareholders are due to approve a $14 billion plan to merge with the New York Stock Exchange  and create the first transatlantic bourse.
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LONDON Barclays said Wednesday it would buy the US credit card company Juniper Financial for $293 million as part of its international expansion plan.
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NEW YORK (CBS.MW) -- UK bank Barclays said Wednesday it has agreed to buy credit-card issuer Juniper Financial from Canadian Imperial Bank of Commerce for $293 million in cash.
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ATLANTA -- IntercontinentalExchange Inc. on Wednesday confirmed it reached a deal that in effect sweetens the Atlanta energy exchange operator's bid to buy the Chicago Board of Trade.
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The parent of the Chicago Mercantile Exchange has raised its offer to buy the Chicago Board of Trade for the third time.
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Tata Motors Ltd.&#39;s new listing on the New York Stock Exchange will help India&#39;s biggest maker of trucks and buses add investors, raise capital for acquisitions and improve its corporate