CME to buy GFI Group in $580 mln deal

July 30 Wed Jul 30, 2014 10:00am EDT

July 30 (Reuters) - Chicago Mercantile Exchange Group Inc , the world's largest futures exchange operator, said it would buy derivatives broker GFI Group Inc for its businesses that provide software for energy and foreign exchange trading.

CME said it would acquire the businesses, Trayport and FENICS, by acquiring GFI in a deal valued at $580 million.

CME will pay $4.55 per share in CME Class A common stock for each GFI share, representing a 46 percent premium to GFI's closing price on Tuesday.

Following the acquisition, a private consortium led by GFI Executive Chairman Michael Gooch will buy GFI's wholesale brokerage and clearing businesses for $165 million in cash, the companies said on Wednesday. (Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty)

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