Intercontinental Exchange, Inc. — Form 8-K
Filed July 30, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 10/100
What the filing says
Intercontinental Exchange (ICE) agreed to acquire MarketAxess Holdings Inc. for $167.00 per share in an all-cash merger. The transaction values MarketAxess at approximately $10.5 billion (based on 35.2M shares outstanding as of July 27, 2026). Closing is expected within five business days of regulatory clearance; no financing condition applies.
Why this rating
Deal is ~10% of ICE's $104B market cap—material but not transformational. Merger agreement is boilerplate M&A document with standard reps, conditions, and remedies. No unusual terms disclosed.
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