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Bats shares soar on CBOE take over talk

23 September 2016  |  4980 views  |  0 Signature

Shares in Bats Global Markets have soared on the back of speculation that it may be acquired by the venerable Chicago Board Options Exchange.

Bats stock price rose 24% to $33 following unconfirmed reports that the CBOE is holding talks about a possible takeover.

Such a move would push the 43-year old exchange beyond its traditional options and futures business into the big leagues of US and European shares and currency trading. It would also act as a bulwark against increasing incursions by rival exchange operator Nasdaq into its core US options business.

Bats currently ranks as the second-biggest US stock market and Europe's largest equities trading venue. The company, which went public in April, is currently valued at about $2.6 billion.

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