CME will acquire NEX in a transaction valued at GBP 10 (USD 14) per share, consisting of GBP 5 in cash and 0.0444 CME Group shares, based on CMEs closing share price of USD 158.84.
The transaction is expected to close in the second half of 2018, pending on the approval of regulators and NEX shareholders.
NEX is a provider of currency and fixed income platforms, and other over-the-counter (OTC) post-trade products and services.
As part of the acquisition, NEX shareholders will be entitled to receive GBP 5 in cash for each NEX share and 0.0444 shares of CME Group.
The transaction is expected to generate cost synergies of USD 200 million annually by the end of 2021, assuming the deal is completed in 2018.
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