Two Midwestern exchange operators have agreed to combine in a deal that will potentially merge two of the largest trading venues in the United States.
CBOE Holdings, which owns the Chicago Board Options Exchange offered $3.2 billion in cash and stock to acquire Kansas-based Bats Global Markets according to a statement released by the companies. CBOE is the largest American options exchange, and Bats is the second-largest stock exchange operator in the US by volume, behind the New York Stock Exchange.
Within five years after closing the deal, CBOE expects to generate cost savings of an estimated $65 million by using just one trading platform and streamlining various expenses.
If the deal closes as expected, Edward T. Tilly, CBOE’s chief executive, will retain that role for the combined company. Chris Concannon, Bats’s chief executive, will become president and chief operating officer.
Full Content: The New York Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources, Excludes
May 1, 2024 by
CPI
UK Competition Watchdog Raises Alarm Over Nvidia’s ARM Takeover
May 1, 2024 by
CPI
Sen. Klobuchar Urges Regulators to Probe Collusion in Health Care Pricing
May 1, 2024 by
CPI
Multiple States Join Tennessee’s Antitrust Lawsuit Against NCAA Over NIL Rules
May 1, 2024 by
CPI
NY AG Joins Suit Challenging NCAA’s Restrictions on Student Athlete NIL Rights
May 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI