Exchange operator CME denied a report that it made a $16 billion acquisition offer to Cboe, whose shares jumped 12% before finishing the day lower
Shares of exchange operators CME Group Inc. and Cboe Global Markets Inc. swung Wednesday following a media report that the two Chicago-based companies were discussing a merger.The Financial Times reported that CME had approached Cboe with a $16 billion acquisition offer. The report, citing three people familiar with the matter, said the proposed deal would value Cboe at about $150 a share.
Cboe’s stock price climbed as much as 12% to $139 a share on the news, marking a new all-time intraday high.To Read the Full Story
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