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Wednesday, March 6, 2013

CME Group will consider M&A if target emerges -CFO, (NASDAQ: CME)

CME Group Inc would be open to making a large acquisition should the right target emerge, a top executive said on Wednesday in the latest sign that the company may reverse its longstanding public indifference to mergers and acquisitions."We have all the right pieces in place we feel ... We don't feel compelled to go out and do any particular M&A deal," CME Chief Financial Officer James Parisi said. But, he added: "If a great opportunity were to arise where we can create shareholder value through some type of M&A opportunity, we will certainty take a look at it."The comments keep alive speculation that CME is looking more seriously at potential acquisitions under Chief Executive Phupinder Gill, after years when his predecessor signaled he was uninterested in such deals.Gill, who took the reins of the Chicago-based company in May, has sought to give the company a bigger international profile as it seeks new revenue from non-U.S. sources.

CME Group Inc. (CME Group) offers a range of global products across all asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. Shares of CME traded higher by 1.79% or $1.095/share to $62.28. In the past year, the shares have traded as low as $49.54 and as high as $61.85. On average, 2324330 shares of CME exchange hands on a given day and today's volume is recorded at 1266760.