Intercontinental Exchange to buy Chicago Stock Exchange
April 5 (Reuters) - The Chicago Stock Exchange (CHX) said on Thursday it would be bought by NYSE-operator Intercontinental Exchange Inc for an undisclosed amount, a month-and-a-half after U.S. regulators blocked the sale of CHX to China-based investors.
The Wall Street Journal last month reported that the exchange operator may pay about $70 million for CHX.
The deal is expected to close in 2018, after which CHX will continue to operate as a registered national securities exchange based in Chicago, the company said on Thursday. https://reut.rs/2q7wAUH
ICE will buy all the outstanding shares of CHX Holdings, the parent company of Chicago Stock Exchange as part of the transaction.
GCA Advisors served as financial adviser to CHX, while Sidley Austin was the legal adviser. (Reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila)
