3 Firms Help Cboe Scoop Up Dark Pool Operator

Law360 (October 16, 2020, 5:50 PM EDT) -- On Friday, the company that operates the Chicago Board Options Exchange announced its long-anticipated purchase of one of the largest alternative block-trading trading systems in the U.S., in a deal steered by Davis Polk, WilmerHale and Morgan Lewis.

The terms of the debt-funded deal were not made available, but in a Friday statement Cboe Global Markets touted the $42 million that Bids Trading LP generated in revenue over the past year. The deal has been in the works since at least early 2019.

Davis Polk & Wardwell LLP and WilmerHale are advising Cboe Global Markets and Morgan Lewis & Bockius LLP...

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