Printer Friendly

CME gets regulatory nod to buy KCBT.


15 November 2012 - The US Federal Trade Commission (FTC) said it had cleared derivatives exchange CME Group Inc (NASDAQ:CME) to buy the Kansas City Board of Trade (KCBT), a futures market for hard red winter (HRW) wheat.

The regulatora[euro](tm)s decision was announced before the end of the 30-day review period.

The USD126m (EUR98.9m) cash deal, which was agreed in October, still needs to be approved by the targeta[euro](tm)s shareholders. A date for their meeting has not been specified yet. The completion of the deal is expected later in 2012.

The combination is seen to generate substantial value for both companies shareholders and customers. It will result in cross margins benefits and other capital efficiencies for producers and commercial participants, the buyer has said.Country: USASector: Banking/Financial Services, Agriculture/ForestryTarget: Kansas City Board of Trade (KCBT)Buyer: CME Group IncDeal size in USD: 126mType: Corporate acquisitionStatus: Agreed

COPYRIGHT 2012 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Nov 15, 2012
Previous Article:Seven Group, Carlyle to review Coates Hire ownership options.
Next Article:Entergy gets US nod to buy KGen power plants.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters