CME Group will acquire 90% of Dow Jones Indexes in a joint venture which will leave Dow Jones with a 10% stake. Dow Jones, which is owned by News Corp, will gain $607.5m for 90% of the business, which the deal values at $675m. CME Group will contribute some market data services, which it has valued at $607.5m, to the joint venture.
The venture will raise about $613m of
third party debt, which will be used to pay $607.5m to Dow
Lynton Jones, chairman of consultancy
Bourse Consult in London, said: "It’s good for
CME, but I’m not sure how good it is for the
marketplace. I don’t think it’s a
good thing for exchanges to control data vendors…
It’s important for them to be independent."
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