Winnipeg exchange accepts improved ICE bid

Source: WCE Holdings

WCE Holdings Inc. ("Holdings"), parent of Winnipeg Commodity Exchange, WCE Clearing Corporation and Canadian Climate Exchange announced today that IntercontinentalExchange ("ICE") has submitted an amended arrangement agreement to acquire all shares of Holdings for $77.59 per common share or $50 million in the aggregate.

The board of directors of Holdings has determined that as a result of the amended arrangement agreement submitted by ICE, the offer submitted to Holdings by a third party to acquire the shares of Holdings is no longer a superior proposal to the ICE Arrangement Agreement and the board of directors of Holdings reaffirms its recommendation to shareholders to vote in favour of the arrangement agreement with ICE at the shareholder meeting of Holdings scheduled to be held on August 22, 2007.

The amended arrangement agreement provides for payment of a termination fee of $1.75 million by Holdings to ICE should Holdings terminate the amended arrangement agreement to accept a superior proposal that ICE fails to match.

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