TOP NEWS: NEX Group Receives Takeover Approach From CME Group

15th Mar 2018 17:50

LONDON (Alliance News) - NEX Group PLC on Thursday, noting press reports, confirmed it has received a preliminary takeover approach by CME Group Inc.

The company said discussions are at an early stage and there can be no certainty that an offer for NEX will be made, nor as to the terms of any offer, if made.

The announcement has been made with the consent of CME, NEX said.

Shares in the FTSE 250-listed online trading company closed up 2.4% at 672.006 pence on Thursday, giving the company a market capitalisation of GBP2.55 billion.

ICAP - now known as NEX Group - and Tullett Prebon in June 2016 agreed for Tulett to acquire the ICAP voice broking and information business. The deal was completed at the end of December 2016.

CME Group is a US-based options and futures exchange operator, with a market capitalisation of around USD56.47 billion.

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