Intercontinental Exchange(NYSE:ICE) closed at $157.76. ICE has been frequently mentioned as a potential consolidation candidate over the last 16-months. On 10/2/07 ICE reported September 2007 contract volume rose 33.7% compared to September 2006. ICE is expected to report EPS in October. ICE over all option implied volatility of 44 is below its 26-week average of 48 according to Track Data, suggesting decreasing price movement.
SAP AG(NYSE:SAP), a German software company, announced its $6.8 billion takeover of Business Objects(NYSE:BOBJ), a global provider of business intelligence software solutions BOBJ. Cowen says: "1) What other dilutive deals the company is considering further reducing ROIC? 2) Why SAP paid so much (relatively) for a company that announced 3Q earnings shortfall the same day it got bought, and 3) can the company integrate such a large acquisitions?"
Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
