CBOE, Bats Latest Exchanges To Merge With $3.2B Deal

Law360, New York (September 26, 2016, 2:23 PM EDT) -- CBOE Holdings Inc. agreed to buy Bats Global Markets Inc. in a $3.2 billion cash-and-stock deal, the options exchange giant said on Monday, expanding its reach globally and giving it access to global foreign exchange markets and exchange traded products.

The deal comes a little more than five months after Kansas City-based Bats hit the public markets. Bats raised $252.7 million after pricing its initial public offering at the top of its range and increasing the number of shares it sold.

It gives CBOE, which owns and operates the Chicago Board Options Exchange, access to Bats' European equities offerings, along with...

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