Source: IntercontinentalExchange
IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace and soft commodity exchange, and WCE Holdings, parent of the Winnipeg Commodity Exchange (WCE), jointly announced today that at a special meeting of WCE Holdings shareholders held this afternoon, WCE Holdings shareholders voted to approve the plan of arrangement whereby ICE will acquire all of the shares of WCE Holdings for CDN $77.59 per share or CDN $50 million in the aggregate.
Over 99% of the votes cast by shareholders were in favor of the transaction. Approval from the Manitoba Securities Commission was received today. The transaction remains subject to court approval, for which a hearing is to be held and approval requested on August 27, 2007, and other closing conditions.
The transaction is scheduled to be closed as soon as practicable after court approval is obtained.