Intercontinental Exchange to Acquire MarketAxess for $167.00 Per Share in Cash

MarketAxess Holdings Inc. (MKTX) has entered into a definitive merger agreement to be acquired by Intercontinental Exchange, Inc. in an all-cash transaction. Upon completion, MarketAxess will become a wholly owned subsidiary of Intercontinental Exchange. The MarketAxess Board of Directors has unanimously approved the agreement and recommends that stockholders vote in favor of the merger.

Key Details

• Transaction Terms: Each share of MarketAxess common stock will be converted into the right to receive $167.00 in cash, without interest.
• Agreement Date: The merger agreement was signed on July 29, 2026.
• Termination Fees: The agreement includes a termination fee of $148,800,000 payable by MarketAxess and a fee of $327,400,000 payable by Intercontinental Exchange under specified circumstances, such as failure to obtain antitrust approvals.
• Executive Compensation: In connection with the merger, MarketAxess amended the severance and employment agreements for its CEO, CFO, and General Counsel to provide for enhanced change of control protections, including accelerated vesting of certain equity awards.