Key facts
- Intercontinental Exchange is acquiring MarketAxess Holdings for $5.7 billion.
- The acquisition price is $167 per share in cash.
Intercontinental Exchange will acquire bond trading platform MarketAxess Holdings for $5.7 billion, offering $167 per share in cash. The deal aims to expand ICE's fixed-income offerings and create a more efficient ecosystem.
The acquisition is expected to significantly expand Intercontinental Exchange's presence in the fixed-income market, potentially leading to greater efficiency and transparency for investors in this asset class.
Intercontinental Exchange (ICE) has announced its intention to acquire MarketAxess Holdings in a deal valued at $5.7 billion, aiming to enhance its fixed-income offerings. Under the terms of the agreement, ICE will purchase all outstanding shares of the trading platform for $167 per share in cash, representing a 33% premium over MarketAxess's previous closing price. MarketAxess shares have declined nearly 31% year-to-date, with the company valued at approximately $4.5 billion as of the last close. ICE CEO Jeff Sprecher stated that the combined entities will create a fixed-income ecosystem designed to be transparent, efficient, fully connected, and accessible to all investors.