The Kansas City Board of Trade plans to sell to Chicago-based CME Group Inc. for $126 million in cash.
The parties announced their definitive agreement Wednesday morning. The deal is expected to close later this year, pending approvals.
CME Group (Nasdaq: CME) — which owns the Chicago Mercantile Exchange, Chicago Board of Trade and New York Mercantile Exchange — pledged to keep the historic KCBT trading floor open for at least six months. It also will keep a committee of KCBT market participants for at least three years to advise on hard red winter wheat contract terms and conditions. Read more on The Kansas City Star.