IntercontinentalExchange is looking to buy the parent company of the icononic institution ...NYSE Euronext... in an $8.2 billion dollar cash and stock deal.
In the deal announced today, IntercontinentalExchange will pay $33.12 a share for NYSE Euronext.
That's a premium of 38% over its closing price Wednesday.
After the news broke, shares of NYSE Euronext were surging 35%.
The deal has been given the green light by the boards of both companies, but is still subject to regulatory approval.