Boards approve CME’s £3.9bn offer for Nex

The boards of the two firms give unanimous green light to cash-stock transaction

Terry Duffy - web.jpg
Terry Duffy: "...this acquisition will allow us to create significant value and efficiencies for our clients globally”

Multi-asset exchange CME’s £3.9 billion ($5.4 billion) offer for Nex Group has been unanimously approved by the boards of directors of both firms in a move that will create a behemoth in the spot and futures FX, US treasuries and commodities space.

The two firms have reached an agreement whereby CME Group will pay £10 per Nex Group share in a 50/50 cash/stock deal, valued as 500 pence in cash and 0.0444 CME shares.

Upon completion of the merger, London will serve as the European headquarters

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