Dennis Berman and Jeffrey McCracken of The Wall Street Journal report Wednesday that a deal is near for the paper’s parent company to sell its stock index business.
Berman and McCracken write, “The price was expected to be greater than $600 million, said one of these people, though an exact price couldn’t be determined.
“Discussions have been going on for weeks and it was still possible a deal could fall through. The latest indications, however, were that a transaction could be announced in the coming days.
“A spokesman for Dow Jones, a unit of News Corp. and publisher of The Wall Street Journal, declined to comment. A CME spokesman also declined comment.
“A move by Chicago-based CME Group would push the exchange operator deeper into the investment information business, packaging and calculating lists of stocks and other investments for use in futures, options, mutual funds, and other investment products.”
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