CME $17 Billion Decline No Barrier to Deutsche Boerse Bid

While $17 billion of lost market capitalization has cost CME Group Inc. the title of world’s most valuable exchange owner, its stock commands a valuation that would make buying Germany’s Deutsche Boerse AG a bargain.

The Chicago Mercantile Exchange owner approached Deutsche Boerse at the end of last year to consider starting talks on a merger, according to four people familiar with the situation. The Frankfurt-based owner of the Eurex derivatives exchange is hesitant about entering discussions, said the people, who asked not to be identified because the information is private. Deutsche Boerse said in a statement yesterday that it’s not in merger talks.