Intercontinental Exchange Acquires MarketAxess for $5.7 Billion
Intercontinental Exchange (ICE) has announced its intention to acquire MarketAxess Holdings, a fixed-income trading platform, in a deal valued at $5.7 billion. The acquisition involves ICE purchasing all outstanding shares of MarketAxess at $167 per share, representing a 33% premium over the company's previous closing price. This move is aimed at expanding ICE’s offerings within the fixed-income market and enhancing transparency and efficiency for investors. MarketAxess has experienced significant stock performance challenges this year, with its shares down nearly 31%. As of the last close, the firm was valued at approximately $4.5 billion according to LSEG data.
Topics: fixed-income market M&A