By John McCrank
Nov 8 (Reuters) - IntercontinentalExchange Inc saidits takeover of NYSE Euronext would close on Nov. 13,after clearing final regulatory hurdles on Friday.
The derivatives exchange and clearing house operator said inDecember it would buy the owner of the New York Stock Exchangein a deal that also gives ICE control of Liffe, Europe's No. 2derivatives market.
The transaction had been expected to close on Monday, Nov.4, but ICE said on Wednesday that while there were nosubstantive issues remaining, certain European regulators neededmore time to review the takeover.
The deal, which consists of around 75 percent shares and 25percent cash, was worth 10.9 billion as of Nov. 1.
Shares of ICE and NYSE will cease to trade after Tuesday,Nov. 12, and the shares of the merged company will begin tradingthe next day under the ticker symbol "ICE" on the New York StockExchange.
ICE Chief Executive Jeff Sprecher, who helped start thecompany in 2000 and built it up through a series of deals, saidon a call with analysts on Tuesday that ICE would move quicklyto integrate the parts of NYSE it plans to keep, while unloadingother parts of the business.
Sprecher has had a history of eliminating the trading floorsof the exchanges his company has bought, but has vowed to keepopen the floor of the New York Stock Exchange, which traces itsorigins back to an agreement signed under a buttonwood tree onWall Street in 1792.
ICE said in December it expects to cut the majority of $450million of run-rate expenses from the combined company by thesecond full year after the deal closes.
NYSE's website says the company has 2,993 employees, whileICE had 1,121 employees as of Sept. 30, according to a recentregulatory filing.
ICE also plans to spin off Euronext, which includes theParis, Amsterdam, Brussels and Lisbon stock exchanges, in an IPOlikely some time next year.
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