Deals
SEC Kills Chinese-Linked Takeover of Chicago Stock Exchange
- Donald Trump blasted deal during the presidential campaign
- Chicago exchange wanted to become a hub for Chinese stocks
The offices of the Chicago Stock Exchange in Chicago, Illinois.
Photographer: Scott Olson/Getty Images
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U.S. regulators rejected a bid by a Chinese-linked consortium to take over the Chicago Stock Exchange, extinguishing an ambitious dream of starting an international listing venue from a minuscule market.
The Securities and Exchange Commission’s decision ends a process that lasted two years and took place in the crucible of a presidential campaign and a new administration that’s expressed skepticism over China’s policy motives. Now that it’s over, the exchange founded in 1882 is left handling less than 1 percent of daily U.S. stock trading, missing out on an audacious project to court smaller companies, particularly those based in China.