MarketAxess Says Shareholder Complaints Over Planned Intercontinental Exchange Merger 'Without Merit'

MT Newswires Live10-24 04:52

MarketAxess (MKTX) said Friday in a regulatory filing that shareholder complaints over its proposed merger with Intercontinental Exchange (ICE) are "without merit."

MarketAxess said that between Oct. 6 and Oct. 15, three complaints were filed by shareholders of the company in State Court alleging that the merger's definitive proxy statement has incomplete and/or misleading information.

The shareholders are seeking injunctive relief restraining MarketAxess from completing the deal until additional disclosure is made, the company said.

MarketAxess said that to avoid the risk of the State Court complaints or other shareholder demands delaying the deal, it has decided to voluntarily amend the definitive proxy statement.

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