CME denies report of buyout bid for Cboe, saying ‘inaccurate’ report needed ‘correction’

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Shares of Cboe Global Markets Inc.
CBOE,
-0.40%
rose 1.5% in afternoon trading, but pulled back sharply, after CME Group Inc.
CME,
-2.98%
denied that it had any discussions regarding a buyout of the rival exchange. Just prior to the denial, was up about 8.4%. CME shares was recently down 2.7%, paring a pre-denial decline of about 4.1%. “The company has not had any discussions with Cboe whatsoever,” CME said in a statement. “While the company does not typically comment on rumor or speculation, today’s inaccurate information required correction.” CME was referring to a report in the Financial Times that said CME was making an all-stock bid valued at $16 billion to buy Cboe, which sent Cboe shares surging and knocked CME shares lower. Cboe had said it didn’t comment on “rumors or speculation.”

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