ISE confirms buyout talks with German operator

The International Securities Exchange Holdings, Inc. (ISE) confirmed Monday that it was in advanced talks with the Deutsche Boerse AG, a German stock exchange operator, and that a buyout agreement was possible.

The Deutsche Boerse AG also confirmed talks to acquire the New York-based U.S. options exchange for 2.8 billion U.S. dollars.

ISE, however, said in a news release "the transaction is still subject to the negotiation of final terms and documentation as well as approval by ISE's Board of Directors."

"Even if a definitive agreement is reached, consummation of a transaction would be subject to a number of conditions, including ISE shareholder approval, U.S. Security and Exchange Commission regulatory approval and clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976," ISE said.

ISE would give no further comment until the conclusion of the discussions.

The Deutsche Boerse AG has been looking for possible partnerships after it lost out to the New York Stock Exchange Group Inc. in a bid to acquire European exchange operator Euronext and had two offers for the London Stock Exchange rebuffed.

ISE operates the largest U.S. equity options exchange, offering index options, including a portfolio of proprietary index products, and enhanced market data products for sophisticated investors.

Source: Xinhua