EU: Euronext spin-off could fetch $2.4B

As IntercontinentalExchange looks to spin-off the Euronext exchange, which it acquired through its purchase of the New York Stock Exchange, reports say ICE expects an initial public offering of Euronext to fetch about $2.4 billion.

ICE first announced plans to float Euronext last month, though reports say it did not come as a surprise as ICE planned to do so since it first sought to acquire NYSE. Euronext was first acquired by NYSE in 2007.

ICE acquired NYSE Euronext in a $8.2 billion deal only months after a NYSE Euronext tie-up with Deutsche Boerse was rejected by the European Commission.

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