Posted by: youngragingbull | October 17, 2012

CME to buy Kansas City Board of Trade for $126M

CME Group Inc. said Wednesday it’ll pay $126 million in cash for the Kansas City Board of Trade, which the Chicago market operations firm billed as the leading futures market for hard red winter wheat.

CME Group said it’ll pay a special distribution of excess cash to members of the Kansas City Board of Trade, but it did not specify a dollar amount.

“This transaction creates significant value for customers and shareholders of both companies,” the CME said.

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