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Benzinga
Benzinga
Business
Anusuya Lahiri

Intercontinental Exchange To Scoop Black Knight At 34% Premium

Black Knight Ice BKI NYSE

Intercontinental Exchange, Inc (NYSE:ICE) agreed to acquire Black Knight, Inc (NYSE:BKI) in a cash and stock transaction values Black Knight at $85 per share or a market value of $13.1 billion. The offer price implies a 33.6% premium to BKI's May 3 closing of $63.63.

The transaction builds on ICE's position as a provider of end-to-end electronic workflow solutions for the rapidly evolving U.S. residential mortgage industry.

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