IntercontinentalExchange (ICE), an electronic energy marketplace and soft commodity exchange, and WCE Holdings, parent of the Winnipeg Commodity Exchange (WCE), have jointly announced that WCE Holdings’ shareholders voted to approve the ‘plan of arrangement’ whereby ICE will acquire all of the shares of WCE Holdings for CDN $77.59 per share or CDN $50 million on aggregate.
Over 99% of the votes cast by shareholders were in favor of the transaction. Approval from the Manitoba Securities Commission was received last week. The transaction is scheduled to be closed as soon as practicable after court approval is obtained.