Deals
CBOE Shares Surge After Report of $16 Billion Approach by CME
A trader looks over computer monitors at the Cboe Volatility Index pit on the floor of the CBOE Global Markets exchange in Chicago.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
CBOE Global Markets Inc., owner of the VIX volatility indexes, surged the most in more than eight weeks on a report that CME Group Inc. had proposed a $16 billion acquisition.
CME, the world’s largest futures-exchange operator, offered 0.75 of its own shares for every CBOE share, the Financial Times reported, citing three people familiar with the talks. That would value CBOE shares at about $150 each, according to the report, or roughly 21% higher than Tuesday’s closing price.