CME Group Confirms Preliminary Approach to Buy NEX Group

   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 [e-mail]

(END) Dow Jones Newswires

March 16, 2018 10:42 ET (14:42 GMT)

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