secwatch.observer — SEC 8-K summary
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Issuer:     Intercontinental Exchange, Inc. (ICE)
CIK:        0001571949
Form:       8-K
Filed at:   2023-03-07T23:59:59+00:00
Accession:  0001193125-23-063262
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ICE and Black Knight amend merger terms to $75/share; divest Empower LOS to Constellation; extend deadline to Nov 2023
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- Revised consideration $75/share ($68 cash per share plus stock with 0.0682 exchange ratio, VWAP $102.62).
- Divestiture of Empower LOS (including Exchange, LendingSpace, AIVA) to Constellation Software to address FTC antitrust concerns; deal contingent on ICE's acquisition closing.
- ICE commits to litigate with FTC if necessary; merger deadline extended to November 4, 2023.
- $725M termination fee now triggered if Black Knight shareholders fail to approve; Black Knight's prior $40M expense reimbursement obligation eliminated.
- Parties certified closing conditions satisfied as of March 7, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1571949/000119312523063262/0001193125-23-063262-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1571949/000119312523063262/d472787d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-063262

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