March 29, 2018 / 7:04 AM / 4 months ago

BRIEF-CME Group Inc To Acquire NEX Group plc

March 29 (Reuters) - CME Group Inc:

* OFFER FOR NEX GROUP PLC

* CME AND NEX HAVE REACHED AGREEMENT ON TERMS OF A RECOMMENDED ACQUISITION WHEREBY ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF NEX​

* ‍UNDER TERMS OF ACQUISITION, NEX SHAREHOLDERS WILL BE ENTITLED TO RECEIVE: FOR EACH NEX SHARE 500 PENCE IN CASH AND 0.0444 NEW CME SHARES​

* ‍CME BOARD BELIEVES THERE IS A COMPELLING STRATEGIC AND FINANCIAL RATIONALE FOR UNDERTAKING ACQUISITION​

* ‍CME BOARD EXPECTS ACQUISITION TO GENERATE RUN RATE COST SYNERGIES OF $200 MILLION, WHICH ARE ANTICIPATED TO BE FULLY ACHIEVED BY END OF 2021​

* ‍IN ADDITION TO EXPECTED COST SYNERGIES, THERE ARE ANTICIPATED TO BE COMPELLING REVENUE GROWTH​

* ‍NEX’S HEADQUARTERS WILL BE COMBINED WITH CME’S, AND COMBINED COMPANY’S HEADQUARTERS WILL BE LOCATED AT CME’S HEAD OFFICE IN CHICAGO​ Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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