By Lisa Kerner
Charlotte, N.C., Aug. 27 - NYSE Euronext, Inc. said it will acquire Nyfix, Inc. for $1.675 per share in an all-cash deal valued at approximately $144 million, including preferred stock consideration.
Both companies boards of directors have approved the transaction which is slated to close in the fourth quarter of 2009.
The Nyfix business will become part of the offerings provided by NYSE Euronext's commercial technology division, NYSE Technologies.
NYSE Euronext expects the deal to be accretive to its 2010 earnings, excluding one-time deal and restructuring costs.
"The Nyfix FIX Division complements our strategic corporate goals and technology business, and expands our points of connectivity with customer trading communities," said NYSE Euronext executive vice president and chief financial officer Michael Geltzeiler.
Citigroup and Wachtell, Lipton, Rosen & Katz are advising NYSE Euronext on the transaction. Nyfix is being advised by Evercore Partners and Wilmer Hale.
Evercore provided a fairness opinion to Nyfix's board and Greenhill & Co. provided a fairness opinion to the board's special committee.
New York-based NYSE Euronext NYSE securities listing, trading, market data products, and software and technology services worldwide.
Nyfix, also located in New York, provides trading workstations, middle office trade automation technologies, and trade messaging services in the United States and internationally.
| Acquirer: | NYSE Euronext, Inc.
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| Target: | Nyfix, Inc.
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| Announcement date: | Aug. 27
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| Transaction total: | $144 million
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| Price per share: | $1.675
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| Expected closing: | Fourth quarter of 2009
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| Stock price for target: | Nasdaq: NYFX: $0.86 on Aug. 26
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