Bats shares soar on CBOE take over talk

Bats shares soar on CBOE take over talk

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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