CME Group Confirms Preliminary Approach to Buy NEX Group
17 March 2018 - 1:57AM
Dow Jones News
By Carlo Martuscelli
CME Group Inc. (CME) confirmed Friday that it had made a
preliminary approach to NEX Group PLC (NXG.LN) for a potential
takeover of the London-listed financial technology firm.
CME, a global-exchange operator, said it was working together
with NEX to complete due diligence and determine whether a firm
offer could be made, adding that there is no certainty that a firm
offer will be made.
CME has until April 12 to make an offer, according to the rules
of the London Stock Exchange.
NEX, which runs major electronic markets for bonds and
foreign-exchange trading, said on Thursday that it had received a
preliminary takeover approach by CME.
Formerly called the Chicago Mercantile Exchange, Chicago-based
CME has grown by absorbing rivals such as the Chicago Board of
Trade and the New York Mercantile Exchange. It offers trading in
futures contracts on markets ranging from oil to gold to
stock-market indexes.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
March 16, 2018 10:42 ET (14:42 GMT)
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