ICE is a longtime Shearman client, with the firm counseling the exchange on its purchase of The Clearing Corporation for an undisclosed sum, its subsequent $600 million acquisition of the Climate Exchange, its $512 million acquisition of a 12.4 percent stake in Brazilian clearing firm Cetip, and its purchase of a 79.12 percent stake in the derivatives and spot natural gas business of APX-Endex for an undisclosed sum.
The legal teams
Johnathan Short, a former McKenna Long & Aldridge partner, serves as general counsel and corporate secretary for ICE.
The legal team advising NYSE Euronext on its proposed sale to ICE is being led by Wachtell M&A partner David Karp and antitrust partner David Schwartz.
Wachtell served as NYSE Euronext's lead legal adviser last on the proposed merger with the Deutsche Börse. Though antitrust concerns helped kill that deal, similar issues may not play as prominent a role in the proposed union of NYSE Euronext and ICE because there is little overlap between the two exchanges, according to news reports.
Reuters reports that, if the proposed merger wins regulatory approval, it will create the world's third-largest exchange, with a combined ICE-NYSE Euronext able to offer a derivatives and equity exchange platform.
Magic Circle firm Slaughter and May is advising NYSE Euronext through antitrust partner Claire Jeffs and corporate head Frances Murphy. Jaap Willeumier, head of banking and finance at Stibbe, is providing counsel on Dutch legal aspects of the proposed merger.
Former Milbank, Tweed, Hadley & McCloy associate and current NYSE Euronext deputy general counsel Tracey Heaton is leading an in-house team from the exchange working on its proposed sale to ICE.
Davis Polk & Wardwell corporate partner John Amorosi is representing Morgan Stanley, which is serving as financial adviser to ICE in connection with its bid for NYSE Euronext.
Brian Baxter writes for Am Law Daily, a Daily Report affiliate.