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NYSE parent company agrees to purchase Chicago Stock Exchange

The New York Stock Exchange's parent company agreed to buy the Chicago Stock Exchange, adding the smaller venue after its sale to a Chinese buyer collapsed.

"After an in-depth review of strategic alternatives for CHX, we believe this transaction is clearly in the best interests of CHX stockholders and positions the organization well going forward," Matthew Frymier, chairman of CHX Holdings Inc., said Thursday in a statement that didn't provide terms of the transaction.

A deal valuing the Chicago exchange at $50 million to $100 million was likely, people familiar with the matter said last week. The "financial impact will not be material," Intercontinental Exchange Inc., NYSE's parent, said in a separate statement.

The Chicago exchange, which handles less than 1 percent of U.S. equity trading, tried previously to sell itself to a China-based investment consortium. In February, the U.S. Securities and Exchange Commission killed the proposed takeover by Chongqing Casin Enterprise Group. The rejection ended a rancorous two-year debate and snuffed out plans by the would-be buyers to create a pipeline for Chinese companies to list their shares in the U.S.

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