Commence the groveling!
IntercontinentalExchange and NYSE Euronext have launched their formal pitch for antitrust officials in Brussels to oversee their proposed merger, aiming to sidestep national regulators and smooth the passage of the $8.2bn deal.
The exchanges submitted their plan to the European Commission on Monday and disclosed the move in a regulatory filing Thursday, triggering a crucial eight-week process that will determine the fate of a deal that would create the world's largest exchange operator by market value….
The Commission said member states have 15 working days following the Ice request to raise any objections to Brussels taking sole oversight.
Ice and NYSE seek European clearance for merger [Financial News]