NEX, CME Announce CMA Clearance For Acquisition - Quick Facts

(RTTNews) - The Competition and Markets Authority or CMA has decided, on the information currently available to it, not to refer the anticipated acquisition by CME Group of NEX Group to a Phase 2 investigation under the provisions of the Enterprise Act 2002. Accordingly, all of the conditions relating to regulatory and antitrust approvals have now been satisfied or waived.

On 29 March 2018, the boards of NEX and CME announced that they had reached an agreement on the terms of a recommended share and cash acquisition of the entire issued and to be issued share capital of NEX.

The acquisition is to be effected by means of a scheme of arrangement. The Scheme remains subject to certain conditions including sanction by the Court at the Court Hearing (expected to take place on 1 November 2018). The Scheme is expected to become effective on 2 November 2018.