CME Group Inc confirmed March 16 that it made a preliminary approach about a potential offer for NEX Group. Financial terms weren’t announced. NEX, of London, owns BrokerTec while CME owns the Chicago Mercantile Exchange.
CME Group Inc. (“CME”) notes the announcement made by NEX Group plc (“NEX”) yesterday and confirms that it has made a preliminary approach regarding a potential acquisition of NEX.
CME and NEX currently are working together to allow CME to complete due diligence and determine whether a firm offer can be made. As a result, there can be no certainty that any firm offer will ultimately be made for NEX, nor in relation to the terms on which such offer may be made.
CME takes a disciplined approach to acquisitions with clearly defined strategic and financial objectives and an offer, if any, would have to meet these objectives.
In accordance with Rule 2.6(a) of the Code, CME is required, by not later than 5.00 p.m. on April 12, 2018, being the 28th day following the date of NEX’s announcement to either announce a firm intention to make an offer for NEX in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Panel on Takeovers and Mergers (the “Panel”) in accordance with Rule 2.6(c) of the Code.
A further announcement will be made if and when appropriate.
The person responsible for arranging for the release of this announcement on behalf of CME is John Pietrowicz.