Brief: ICE to buy Black Knight for about $16 Bln

Black Knight

04/05/2022 20:16

May 4 (Reuters) - Intercontinental Exchange Inc  ICE.N :
    * INTERCONTINENTAL EXCHANGE ENTERS INTO DEFINITIVE AGREEMENT
TO
ACQUIRE BLACK KNIGHT
    * INTERCONTINENTAL EXCHANGE INC - CASH AND STOCK TRANSACTION
VALUES BLACK KNIGHT AT $85 PER SHARE, OR A MARKET VALUE OF $13.1
BILLION
    * INTERCONTINENTAL EXCHANGE INC - DEFINITIVE AGREEMENT HAS
BEEN
UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES
    * INTERCONTINENTAL EXCHANGE INC - ENTERPRISE VALUE OF
APPROXIMATELY $16 BILLION
    * INTERCONTINENTAL EXCHANGE INC- TRANSACTION TO BE ACCRETIVE
TO
ADJUSTED EARNINGS PER SHARE IN FIRST FULL YEAR
    * INTERCONTINENTAL EXCHANGE INC - EXPECT TO REALIZE REVENUE
SYNERGIES, NET OF RELATED COSTS, OF APPROXIMATELY $125 MILLION
BY YEAR FIVE
    * INTERCONTINENTAL EXCHANGE INC - CASH CONSIDERATION OF
$10.5
BILLION EXPECTED TO BE FUNDED WITH NEWLY ISSUED DEBT AND CASH ON
HAND AT TIME OF CLOSE
    * INTERCONTINENTAL EXCHANGE INC - EXPECT TO REALIZE COST
SYNERGIES
OF $200 MILLION, WITH ONE-THIRD REALIZED BY YEAR ONE, TWO-THIRDS
BY YEAR THREE
    * INTERCONTINENTAL EXCHANGE INC - BLACK KNIGHT SHAREHOLDERS
CAN
ELECT TO RECEIVE EITHER CASH OR STOCK, SUBJECT TO PRORATION

Source text for Eikon:  urn:newsml:reuters.com:*:nBwdg2n6a
Further company coverage:  ICE.N 

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