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CME Clears Final Hurdle for NEX Acquisition

CME Group has received clearance from the UK Competition and Markets Authority for its acquisition of NEX Group.

This means that all of the conditions relating to regulatory and antitrust approvals for the deal have now been satisfied or waived.

The boards of NEX and CME announced on March 29, 2018, that they had reached an agreement on the terms of a recommended share and cash acquisition of the entire issued and to-be-issued share capital of NEX. On May 18, 2018, NEX shareholders approved the terms of the acquisition.

While there are still additional legal documents that have to be delivered, the current schedule for the completion of the transaction shows that trading in NEX shares will be suspended on November 1, and the listing of these shares on the London Stock Exchange will be cancelled by 8am BST on November 5.

As part of the acquisition deal, new CME shares will then be issued by 8am EST on November 5 and the dealing in these shares on Nasdaq will commence at 8.30am EST.

 

 

Galen Stops

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