CBOE Holdings $3.2 billion acquisition of BATS Global

Overview:

• Largest US options exchange CBOE Holdings has acquired global stock exchange BATS Global in a $3.2 billion deal.
• The price tag comes to $32.50 per BATS share.
• BATS is the second-largest stock exchange in the US.
• The newly formed company will be based in Chicago.
• Sidley Austin (Thomas Cole, Beth Peev) advised CBOE.
• Davis Polk & Wardwell (Leonard Kreynin, Lee Hochbaum) advised BATS.
• Sullivan & Cromwell (Stephen Kotran) represented BATS financial adviser Barclays.

Kurt Stumpo - Journalist - North America and the Caribbean