Deutsche Boerse, CME final bidders for FX platform 360T: Sources

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Published: July 24, 2015 4:55:51 PM

Commodities and currency exchange operator CME Group is competing against Germany's Deutsche Boerse in a final round of bidding for German-based foreign exchange trading platform 360T, three industry sources told Reuters on Friday.

Commodities and currency exchange operator CME Group is competing against Germany’s Deutsche Boerse in a final round of bidding for German-based foreign exchange trading platform 360T, three industry sources told Reuters on Friday.

The sources said 360T would choose one of the bidders for exclusive talks shortly and that the purchase price for the company was likely to rise to 650-750 million euros ($711.10 million to $820.50 million) from earlier industry estimates of 500-600 million euros.

Reuters reported last month that Deutsche Boerse was considering a bid for the company.

“For CME, it would be a big step to increase its footprint in Europe. So they should be able to pay a high strategic premium,” one source said, adding it would also be a big strategic step for Deutsche Boerse.

All three companies declined to comment. ($1 = 0.9141 euros)

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