ICE » Topics » We may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from our mergers and acquisitions, which could adversely affect the value of our common stock.

These excerpts taken from the ICE 10-K filed Feb 11, 2009.
We may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from our mergers and acquisitions or investments, which could adversely affect the value of our common stock.
 
We completed multiple acquisitions and strategic investments in 2007 and 2008, including transactions with NYBOT (ICE Futures U.S.), Winnipeg Commodity Exchange, Inc. (ICE Futures Canada), Chatham Energy Partners, LLC, ChemConnect Inc., Commoditrack, Inc, National Commodity Derivatives Exchange Limited (NCDEX), YellowJacket Software, Inc. and Creditex Group, Inc. The success of our mergers and acquisitions will depend, in part, on our ability to realize the anticipated synergies and growth opportunities from combining the businesses, as well as our expected cost savings and revenue growth trends. In general, we expect to benefit from operational synergies resulting from the consolidation of capabilities and elimination of redundancies in our mergers and acquisitions.
 
Integration of companies acquired by us is complex and time consuming, and requires substantial resources and effort. We must successfully combine the businesses in a manner that permits the expected cost savings and synergies to be realized. In addition, we must achieve the anticipated savings and synergies without adversely affecting current revenues and our investments in future growth. The integration process and other disruptions resulting from the mergers or acquisitions may also disrupt each company’s ongoing businesses or cause inconsistencies in standards, controls, procedures and policies that adversely affect our relationships with market participants, employees, regulators and others with whom we have business or other dealings or our ability to achieve the anticipated benefits of the merger or acquisition. When we expand our product offering through a merger or acquisition, we may need to introduce our trading platform to customers that have historically conducted business by telephone or on a different exchange. The process of transitioning customers to our electronic platform can be time consuming and expensive and if not ultimately accepted, could substantially impair or render worthless the assets we acquired through the merger or acquisition. In addition, difficulties in integrating the businesses or any negative impact on the regulatory functions of any of our companies could harm the reputation of the companies. We may not successfully achieve the integration objectives, and we may not realize the anticipated cost savings, revenue growth and synergies in full or at all, or it may take longer to realize them than expected.
 
In addition, we may not realize anticipated growth opportunities and other benefits from strategic investments we have made and may make in the future for a number of reasons, including regulatory or government approvals or changes and, in some instances, our lack of or limited control over the management business, such as NCDEX. If we fail to successfully integrate an acquired business, or if the reason we acquired or invested in a business is materially impacted, we may be required to take an impairment charge on our financial statements, which could negatively impact our stock price.
 
We may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from our mergers and acquisitions or investments, which could adversely affect the value of our common stock.
 
We completed multiple acquisitions and strategic investments in 2007 and 2008, including transactions with NYBOT (ICE Futures U.S.), Winnipeg Commodity Exchange, Inc. (ICE Futures Canada), Chatham Energy Partners, LLC, ChemConnect Inc., Commoditrack, Inc, National Commodity Derivatives Exchange Limited (NCDEX), YellowJacket Software, Inc. and Creditex Group, Inc. The success of our mergers and acquisitions will depend, in part, on our ability to realize the anticipated synergies and growth opportunities from combining the businesses, as well as our expected cost savings and revenue growth trends. In general, we expect to benefit from operational synergies resulting from the consolidation of capabilities and elimination of redundancies in our mergers and acquisitions.
 
Integration of companies acquired by us is complex and time consuming, and requires substantial resources and effort. We must successfully combine the businesses in a manner that permits the expected cost savings and synergies to be realized. In addition, we must achieve the anticipated savings and synergies without adversely affecting current revenues and our investments in future growth. The integration process and other disruptions resulting from the mergers or acquisitions may also disrupt each company’s ongoing businesses or cause inconsistencies in standards, controls, procedures and policies that adversely affect our relationships with market participants, employees, regulators and others with whom we have business or other dealings or our ability to achieve the anticipated benefits of the merger or acquisition. When we expand our product offering through a merger or acquisition, we may need to introduce our trading platform to customers that have historically conducted business by telephone or on a different exchange. The process of transitioning customers to our electronic platform can be time consuming and expensive and if not ultimately accepted, could substantially impair or render worthless the assets we acquired through the merger or acquisition. In addition, difficulties in integrating the businesses or any negative impact on the regulatory functions of any of our companies could harm the reputation of the companies. We may not successfully achieve the integration objectives, and we may not realize the anticipated cost savings, revenue growth and synergies in full or at all, or it may take longer to realize them than expected.
 
In addition, we may not realize anticipated growth opportunities and other benefits from strategic investments we have made and may make in the future for a number of reasons, including regulatory or government approvals or changes and, in some instances, our lack of or limited control over the management business, such as NCDEX. If we fail to successfully integrate an acquired business, or if the reason we acquired or invested in a business is materially impacted, we may be required to take an impairment charge on our financial statements, which could negatively impact our stock price.
 
We may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from our mergers and acquisitions or investments, which could adversely affect the value of our common stock.
 
We completed multiple acquisitions and strategic investments in 2007 and 2008, including transactions with NYBOT (ICE Futures U.S.), Winnipeg Commodity Exchange, Inc. (ICE Futures Canada), Chatham Energy Partners, LLC, ChemConnect Inc., Commoditrack, Inc, National Commodity Derivatives Exchange Limited (NCDEX), YellowJacket Software, Inc. and Creditex Group, Inc. The success of our mergers and acquisitions will depend, in part, on our ability to realize the anticipated synergies and growth opportunities from combining the businesses, as well as our expected cost savings and revenue growth trends. In general, we expect to benefit from operational synergies resulting from the consolidation of capabilities and elimination of redundancies in our mergers and acquisitions.
 
Integration of companies acquired by us is complex and time consuming, and requires substantial resources and effort. We must successfully combine the businesses in a manner that permits the expected cost savings and synergies to be realized. In addition, we must achieve the anticipated savings and synergies without adversely affecting current revenues and our investments in future growth. The integration process and other disruptions resulting from the mergers or acquisitions may also disrupt each company’s ongoing businesses or cause inconsistencies in standards, controls, procedures and policies that adversely affect our relationships with market participants, employees, regulators and others with whom we have business or other dealings or our ability to achieve the anticipated benefits of the merger or acquisition. When we expand our product offering through a merger or acquisition, we may need to introduce our trading platform to customers that have historically conducted business by telephone or on a different exchange. The process of transitioning customers to our electronic platform can be time consuming and expensive and if not ultimately accepted, could substantially impair or render worthless the assets we acquired through the merger or acquisition. In addition, difficulties in integrating the businesses or any negative impact on the regulatory functions of any of our companies could harm the reputation of the companies. We may not successfully achieve the integration objectives, and we may not realize the anticipated cost savings, revenue growth and synergies in full or at all, or it may take longer to realize them than expected.
 
In addition, we may not realize anticipated growth opportunities and other benefits from strategic investments we have made and may make in the future for a number of reasons, including regulatory or government approvals or changes and, in some instances, our lack of or limited control over the management business, such as NCDEX. If we fail to successfully integrate an acquired business, or if the reason we acquired or invested in a business is materially impacted, we may be required to take an impairment charge on our financial statements, which could negatively impact our stock price.
 
We may
fail to realize the anticipated cost savings, growth
opportunities and synergies and other benefits anticipated from
our mergers and acquisitions or investments, which could
adversely affect the value of our common stock.



 



We completed multiple acquisitions and strategic investments in
2007 and 2008, including transactions with NYBOT (ICE Futures
U.S.), Winnipeg Commodity Exchange, Inc. (ICE Futures Canada),
Chatham Energy Partners, LLC, ChemConnect Inc., Commoditrack,
Inc, National Commodity Derivatives Exchange Limited (NCDEX),
YellowJacket Software, Inc. and Creditex Group, Inc. The success
of our mergers and acquisitions will depend, in part, on our
ability to realize the anticipated synergies and growth
opportunities from combining the businesses, as well as our
expected cost savings and revenue growth trends. In general, we
expect to benefit from operational synergies resulting from the
consolidation of capabilities and elimination of redundancies in
our mergers and acquisitions.


 



Integration of companies acquired by us is complex and time
consuming, and requires substantial resources and effort. We
must successfully combine the businesses in a manner that
permits the expected cost savings and synergies to be realized.
In addition, we must achieve the anticipated savings and
synergies without adversely affecting current revenues and our
investments in future growth. The integration process and other
disruptions resulting from the mergers or acquisitions may also
disrupt each company’s ongoing businesses or cause
inconsistencies in standards, controls, procedures and policies
that adversely affect our relationships with market
participants, employees, regulators and others with whom we have
business or other dealings or our ability to achieve the
anticipated benefits of the merger or acquisition. When we
expand our product offering through a merger or acquisition, we
may need to introduce our trading platform to customers that
have historically conducted business by telephone or on a
different exchange. The process of transitioning customers to
our electronic platform can be time consuming and expensive and
if not ultimately accepted, could substantially impair or render
worthless the assets we acquired through the merger or
acquisition. In addition, difficulties in integrating the
businesses or any negative impact on the regulatory functions of
any of our companies could harm the reputation of the companies.
We may not successfully achieve the integration objectives, and
we may not realize the anticipated cost savings, revenue growth
and synergies in full or at all, or it may take longer to
realize them than expected.


 



In addition, we may not realize anticipated growth opportunities
and other benefits from strategic investments we have made and
may make in the future for a number of reasons, including
regulatory or government approvals or changes and, in some
instances, our lack of or limited control over the management
business, such as NCDEX. If we fail to successfully integrate an
acquired business, or if the reason we acquired or invested in a
business is materially impacted, we may be required to take an
impairment charge on our financial statements, which could
negatively impact our stock price.


 




We may
fail to realize the anticipated cost savings, growth
opportunities and synergies and other benefits anticipated from
our mergers and acquisitions or investments, which could
adversely affect the value of our common stock.



 



We completed multiple acquisitions and strategic investments in
2007 and 2008, including transactions with NYBOT (ICE Futures
U.S.), Winnipeg Commodity Exchange, Inc. (ICE Futures Canada),
Chatham Energy Partners, LLC, ChemConnect Inc., Commoditrack,
Inc, National Commodity Derivatives Exchange Limited (NCDEX),
YellowJacket Software, Inc. and Creditex Group, Inc. The success
of our mergers and acquisitions will depend, in part, on our
ability to realize the anticipated synergies and growth
opportunities from combining the businesses, as well as our
expected cost savings and revenue growth trends. In general, we
expect to benefit from operational synergies resulting from the
consolidation of capabilities and elimination of redundancies in
our mergers and acquisitions.


 



Integration of companies acquired by us is complex and time
consuming, and requires substantial resources and effort. We
must successfully combine the businesses in a manner that
permits the expected cost savings and synergies to be realized.
In addition, we must achieve the anticipated savings and
synergies without adversely affecting current revenues and our
investments in future growth. The integration process and other
disruptions resulting from the mergers or acquisitions may also
disrupt each company’s ongoing businesses or cause
inconsistencies in standards, controls, procedures and policies
that adversely affect our relationships with market
participants, employees, regulators and others with whom we have
business or other dealings or our ability to achieve the
anticipated benefits of the merger or acquisition. When we
expand our product offering through a merger or acquisition, we
may need to introduce our trading platform to customers that
have historically conducted business by telephone or on a
different exchange. The process of transitioning customers to
our electronic platform can be time consuming and expensive and
if not ultimately accepted, could substantially impair or render
worthless the assets we acquired through the merger or
acquisition. In addition, difficulties in integrating the
businesses or any negative impact on the regulatory functions of
any of our companies could harm the reputation of the companies.
We may not successfully achieve the integration objectives, and
we may not realize the anticipated cost savings, revenue growth
and synergies in full or at all, or it may take longer to
realize them than expected.


 



In addition, we may not realize anticipated growth opportunities
and other benefits from strategic investments we have made and
may make in the future for a number of reasons, including
regulatory or government approvals or changes and, in some
instances, our lack of or limited control over the management
business, such as NCDEX. If we fail to successfully integrate an
acquired business, or if the reason we acquired or invested in a
business is materially impacted, we may be required to take an
impairment charge on our financial statements, which could
negatively impact our stock price.


 




We may
fail to realize the anticipated cost savings, growth
opportunities and synergies and other benefits anticipated from
our mergers and acquisitions or investments, which could
adversely affect the value of our common stock.



 



We completed multiple acquisitions and strategic investments in
2007 and 2008, including transactions with NYBOT (ICE Futures
U.S.), Winnipeg Commodity Exchange, Inc. (ICE Futures Canada),
Chatham Energy Partners, LLC, ChemConnect Inc., Commoditrack,
Inc, National Commodity Derivatives Exchange Limited (NCDEX),
YellowJacket Software, Inc. and Creditex Group, Inc. The success
of our mergers and acquisitions will depend, in part, on our
ability to realize the anticipated synergies and growth
opportunities from combining the businesses, as well as our
expected cost savings and revenue growth trends. In general, we
expect to benefit from operational synergies resulting from the
consolidation of capabilities and elimination of redundancies in
our mergers and acquisitions.


 



Integration of companies acquired by us is complex and time
consuming, and requires substantial resources and effort. We
must successfully combine the businesses in a manner that
permits the expected cost savings and synergies to be realized.
In addition, we must achieve the anticipated savings and
synergies without adversely affecting current revenues and our
investments in future growth. The integration process and other
disruptions resulting from the mergers or acquisitions may also
disrupt each company’s ongoing businesses or cause
inconsistencies in standards, controls, procedures and policies
that adversely affect our relationships with market
participants, employees, regulators and others with whom we have
business or other dealings or our ability to achieve the
anticipated benefits of the merger or acquisition. When we
expand our product offering through a merger or acquisition, we
may need to introduce our trading platform to customers that
have historically conducted business by telephone or on a
different exchange. The process of transitioning customers to
our electronic platform can be time consuming and expensive and
if not ultimately accepted, could substantially impair or render
worthless the assets we acquired through the merger or
acquisition. In addition, difficulties in integrating the
businesses or any negative impact on the regulatory functions of
any of our companies could harm the reputation of the companies.
We may not successfully achieve the integration objectives, and
we may not realize the anticipated cost savings, revenue growth
and synergies in full or at all, or it may take longer to
realize them than expected.


 



In addition, we may not realize anticipated growth opportunities
and other benefits from strategic investments we have made and
may make in the future for a number of reasons, including
regulatory or government approvals or changes and, in some
instances, our lack of or limited control over the management
business, such as NCDEX. If we fail to successfully integrate an
acquired business, or if the reason we acquired or invested in a
business is materially impacted, we may be required to take an
impairment charge on our financial statements, which could
negatively impact our stock price.


 




These excerpts taken from the ICE 10-K filed Feb 13, 2008.
We may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from our mergers and acquisitions, which could adversely affect the value of our common stock.
 
We completed multiple acquisitions in 2007, including transactions with NYBOT (ICE Futures U.S.), Winnipeg Commodity Exchange, Inc. (ICE Futures Canada), Chatham Energy Partners, LLC, ChemConnect Inc., and Commoditrack, Inc (ICE Risk). The success of our mergers and acquisitions will depend, in part, on our ability to realize the anticipated synergies and growth opportunities from combining the businesses, as well as our expected cost savings and revenue growth trends. In general, we expect to benefit from operational synergies resulting from the consolidation of capabilities and elimination of redundancies in our mergers and acquisitions. If we fail to successfully integrate an acquired business, or if the reason we acquired the business is materially impacted, we may be required to take an impairment charge on our financial statements, which could negatively impact our stock price.
 
With respect to the ICE Futures U.S. acquisition, we expect continued operational synergies from the use of ICE Futures U.S.’s clearing technology, as well as greater efficiencies from increased scale, market integration and increased automation. Management also expects the combined entity will enjoy revenue synergies, including additional clearing alternatives; expense sharing; increased access, volume and liquidity to the products traded on our respective markets; and expanded product offerings and increased geographic reach.
 
Integration of companies acquired by us is complex and time consuming, and requires substantial resources and effort. We must successfully combine the businesses in a manner that permits the expected cost savings and synergies to be realized. In addition, we must achieve the anticipated savings and synergies without adversely affecting current revenues and our investments in future growth. The integration process and other disruptions resulting from the mergers or acquisitions may also disrupt each company’s ongoing businesses or cause inconsistencies in standards, controls, procedures and policies that adversely affect our relationships with market participants, employees, regulators and others with whom we have business or other dealings or our ability to achieve the anticipated benefits of the merger or acquisition. In addition, difficulties in integrating the businesses or any negative impact on the regulatory functions of any of our companies could harm the reputation of the companies. We may not successfully achieve the integration objectives, and we may not realize the anticipated cost savings, revenue growth and synergies in full or at all, or it may take longer to realize them than expected.
 
We may
fail to realize the anticipated cost savings, growth
opportunities and synergies and other benefits anticipated from
our mergers and acquisitions, which could adversely affect the
value of our common stock.



 



We completed multiple acquisitions in 2007, including
transactions with NYBOT (ICE Futures U.S.), Winnipeg Commodity
Exchange, Inc. (ICE Futures Canada), Chatham Energy Partners,
LLC, ChemConnect Inc., and Commoditrack, Inc (ICE Risk). The
success of our mergers and acquisitions will depend, in part, on
our ability to realize the anticipated synergies and growth
opportunities from combining the businesses, as well as our
expected cost savings and revenue growth trends. In general, we
expect to benefit from operational synergies resulting from the
consolidation of capabilities and elimination of redundancies in
our mergers and acquisitions. If we fail to successfully
integrate an acquired business, or if the reason we acquired the
business is materially impacted, we may be required to take an
impairment charge on our financial statements, which could
negatively impact our stock price.


 



With respect to the ICE Futures U.S. acquisition, we expect
continued operational synergies from the use of ICE Futures
U.S.’s clearing technology, as well as greater efficiencies
from increased scale, market integration and increased
automation. Management also expects the combined entity will
enjoy revenue synergies, including additional clearing
alternatives; expense sharing; increased access, volume and
liquidity to the products traded on our respective markets; and
expanded product offerings and increased geographic reach.


 



Integration of companies acquired by us is complex and time
consuming, and requires substantial resources and effort. We
must successfully combine the businesses in a manner that
permits the expected cost savings and synergies to be realized.
In addition, we must achieve the anticipated savings and
synergies without adversely affecting current revenues and our
investments in future growth. The integration process and other
disruptions resulting from the mergers or acquisitions may also
disrupt each company’s ongoing businesses or cause
inconsistencies in standards, controls, procedures and policies
that adversely affect our relationships with market
participants, employees, regulators and others with whom we have
business or other dealings or our ability to achieve the
anticipated benefits of the merger or acquisition. In addition,
difficulties in integrating the businesses or any negative
impact on the regulatory functions of any of our companies could
harm the reputation of the companies. We may not successfully
achieve the integration objectives, and we may not realize the
anticipated cost savings, revenue growth and synergies in full
or at all, or it may take longer to realize them than expected.


 




This excerpt taken from the ICE 10-K filed Feb 26, 2007.
We may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from the merger with NYBOT, which could adversely affect the value of our common stock.
 
ICE and NYBOT operated as separate companies until the closing of the merger on January 12, 2007. The long term success of the merger will depend, in part, on our ability to realize the anticipated synergies and growth opportunities from combining the businesses, as well as the projected stand-alone cost savings and revenue growth trends identified by each company. On a combined basis, we expect to benefit from operational synergies resulting from the consolidation of capabilities and elimination of redundancies, the use of NYBOT’s clearing capabilities, as well as greater efficiencies from increased scale, market integration and increased automation. Management also expects the combined entity will enjoy revenue synergies, including additional clearing alternatives; expense sharing; increased access, volume and liquidity to the products traded on ICE and NYBOT; and expanded product offerings and increased geographic reach of ICE and NYBOT. However, we must successfully combine the businesses in a manner that permits these cost savings and synergies to be realized. In addition, we must achieve the anticipated savings and synergies without adversely affecting current revenues and our investments in future growth. We may not successfully achieve these objectives, and we may not realize the anticipated cost savings, revenue growth and synergies in full or at all, or it may take longer to realize them than expected.
 

"We may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from our mergers and acquisitions, which could adversely affect the value of our common stock." elsewhere:

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