JPX Targeting TOB for Tokyo Commodity Exchange Within This July

摘要

Japan Exchange Group (JPX) intends to commence a tender offer (takeover bid: TOB) to acquire Tokyo Com-modity Exchange (TOCOM) by the end of this July. The tender offer aimed at establishing an integrated exchange, whichshould have commenced this June, is being delayed. If the commencement is delayed to August, transfer of TOCOM’scommodities to JPX’ affiliated exchange also might be delayed.TOCOM and JPX this March agreed to merge, and were working to reach a final agreement and commence thetender offer by the end of this June, but JPX announced the extension of the tender offer as financial advisors of bothsides couldn’t reach an agreement.