Intercontinental Exchange, Inc. 8K

Intercontinental Exchange, Inc. agreed to acquire MarketAxess Holdings Inc. in a $5.7 billion all-cash deal to create an integrated global fixed income trading and data platform, with closing targeted for the first half of 2027.

Intercontinental Exchange, Inc. (ICE) announced it has entered into a definitive agreement to acquire MarketAxess Holdings Inc. in an all-cash transaction for $167 per share, a 33% premium to MarketAxess’s July 29, 2026 closing price, implying an equity value of approximately $6.0 billion and an enterprise value of about $5.7 billion. The deal, unanimously approved by both boards and expected to close in the first half of 2027, will be financed entirely with newly issued debt and is projected to be accretive to ICE’s adjusted EPS in the first full year post-close, supported by an anticipated $100 million in annual run-rate expense synergies within three years. By combining ICE’s fixed income data, analytics, indices, and retail/wealth bond trading franchise with MarketAxess’s leading institutional electronic fixed income trading network, the companies aim to create a unified global fixed income ecosystem offering end-to-end workflow from pre-trade analytics through post-trade settlement, deeper liquidity, and lower transaction costs for clients in more than 90 countries, while ICE maintains and modestly increases its share repurchase program and targets a reduction in leverage from 3.4x to 3.0x or below within 18–24 months after closing.

Filing Facts

CIK

1571949

Ticker

ICE

Form

8K

Source Type

sec

Accession

0001193125-26-324909

Alert Tier

8