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NEX confirms £3.8bn takeover proposal from CME

Talks are at an advanced stage but the US exchange is yet to make a formal offer

NEX confirms £3.8bn takeover proposal from CME

Michael Spencer’s NEX Group has confirmed it has received a non-binding takeover proposal from CME Group that values the London-listed financial trading and technology company at roughly £3.8bn.

In a statement on Wednesday, NEX confirmed that CME’s proposal would value the company at £10 per share. The shares closed up 9.8% at 972 pence. Other bidders could yet emerge.

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