IntercontinentalExchange (ICE) reported Monday that it is one step closer to completing its $8.2 billion acquisition of the New York Stock Exchange (NYSE) following “unconditional approval” from the European Commission. The deal is still subject to final approval from the Euronext College of Regulators, the U.S. Securities and Exchange Commission and other national financial regulators.
Articles from Unconditional
Southern California Edison called on FERC last week to approve”without condition or modification” an agreement under which ElPaso Natural Gas would pay the California electric utility $32million and make other concessions to forestall the collapse of its1996 capacity-turnback settlement. The deal, if approved by FERC,would put an end to a four-year legal battle by Edison, the only ElPaso customer to object to the settlement in its entirety. It also”clears the way” for Commission approval of the settlement.
After a four-year wait, Cincinnati Gas & Electric Co. and PSIResources finally received unconditional approval of their mergerinto Cinergy Corp. from the Securities and Exchange Commission. Afinal decision on the merger was held up by potential Congressionalaction on the Public Utility Holding Company Act.