NYX Shareholder Alert: Morgan & Morgan to investigate announced merger between NYSE Euronext, Inc. (NYX) and IntercontinentalExchange, Inc. (ICE)
NEW YORK, Dec. 24, 2012 /PRNewswire/ -- Morgan & Morgan is investigating potential claims against the board of directors of NYSE Euronext, Inc. ("NYX" or "NYSE Euronext") concerning the proposed acquisition of NYSE Euronext by IntercontinentalExchange, Inc. ("ICE").
If you are a current shareholder of NYSE Euronext and are interested in learning more about our NYSE Euronext merger investigation, please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at firstname.lastname@example.org.
On December 20, 2012, NYSE Euronext announced that it had entered into an agreement to be acquired by ICE in a transaction valued at approximately $8.2 billion. Under the terms of the agreement, NYSE Euronext shareholders will receive approximately $33.12 in cash and ICE stock for each share of NYSE Euronext stock owned. As part of the merger agreement, NYSE Euronext board of directors agreed to pay ICE a $300 million termination fee if NYSE Euronext board of directors accepts a superior offer from a third party. Additionally, NYSE Euronext board of directors agreed to pay ICE a $450 million termination fee if NYSE Euronext board of directors elected not to proceed with the announced merger for reasons different than a superior third party offer.
Our investigation concerns whether NYSE Euronext's board of directors has breached its fiduciary duties to act in the best interests of all of the NYSE Euronext shareholders and to take all necessary steps to ensure that NYSE Euronext shareholders receive the maximum value readily available for their shares of NYX common stock.
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