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
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|Publication:||M & A Navigator|
|Date:||Nov 15, 2012|
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