NYSE owner agrees to buy the Chicago Stock Exchange

Finance

Jin Liee | Bloomberg | Getty Images

Intercontinental Exchange, the owner of the New York Stock Exchange, announced Thursday it has an agreement to buy the Chicago Stock Exchange.

“We are pleased to enter this agreement with the world’s leading exchange operator,” said John Kerin, CEO and president of the Chicago Stock Exchange. “ICE is a proven innovator in the Exchange space and we are looking forward to joining its family of exchanges.”

The transaction is expected to close this year. Terms of the transaction were not disclosed, but The Wall Street Journal reported last week that the price being discussed was $70 million.

Previously Chinese-led North America Casin Holdings tried to acquire the Chicago Stock Exchange, but the deal collapsed in February after it was rejected by the Securities and Exchange Commission, according to Reuters.

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