ICE to acquire MarketAxess for $167/share cash; $6.25B bridge financing arranged

Intercontinental Exchange, Inc.

Merger consideration: $167.00 per share in cash for each MarketAxess share.
ICE secured a $6.25B 364-day bridge facility from Bank of America as backup financing.
Termination fees: MarketAxess pays $148.8M if it accepts a superior proposal; ICE pays $327.4M if antitrust blocks.
Closing conditions: MarketAxess stockholder approval, HSR and other regulatory approvals, no material adverse effect.
MarketAxess equity awards convert to ICE equity or cash; director RSUs cashed out at $167/share.

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