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© Reuters. FILE PHOTO: Men enter the CME Group offices in New York, U.S., October 18, 2017. REUTERS/Brendan McDermid

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(Reuters) – Exchange operator CME Group Inc (NASDAQ:) on Wednesday denied a media report that it approached rival Cboe Global Markets (NYSE:) Inc with a $16 billion all-share takeover offer.

The Financial Times, citing people familiar with the talks, earlier reported https://on.ft.com/3sBe1qY CME offered 0.75 of its own shares for each Cboe share, representing a per-share value of $150.

CME said in a statement that the report was not true.

“CME Group denies all rumors that it is in conversations to acquire Cboe Global Markets. The company has not had any discussions with Cboe whatsoever,” it said.

Shares of Cboe, which declined to comment on the report, were up 1.7%, while those of CME were 2.4% lower.

Cboe owns the Cboe Volatility Index, or , and offers trading across products such as options, futures and equities.

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