Bats Global Markets, a U.S.-based alternative share trading platform, has struck a deal worth up to $360 million to buy peer Chi-X Europe, the Wall Street Journal reported. A deal would be the latest leg of a merger race redrawing the European market for stock trading. [ID:nSGE71E027] Bats and Chi-X, which have been in exclusive takeover talks since December, are in a drive to boost market share and profitability as they muscle deeper into a market dominated by national exchanges such as Deutsche Boerse (DB1Gn.DE).
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