Deals
CME Group Is in Advanced Talks to Acquire NEX for $5.4 Billion
- Agreement on the acquisition may be announced in coming days
- Michael Spencer becomes a pound billionaire after NEX soars
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Futures trading giant CME Group Inc. proposed to buy Michael Spencer’s NEX Group Plc for an equity value of about 3.8 billion pounds ($5.4 billion).
NEX said it received a non-binding proposal for the acquisition at 10 pounds per share, according to a statement Wednesday. The talks are at an advanced stage and a deal may not be reached, the company said. Shares of NEX jumped as much as 11 percent after Bloomberg News reported the talks.