SIX Group Offers to Buy Spanish Exchange BME for $3.1 Billion

SIX Group AG announced an all-cash offer for Spanish stock exchange operator Bolsas y Mercados Espanoles in a deal it says would create Europe’s third-largest group for financial market infrastructure.

The Swiss stock exchange operator, which is privately held by a group of the country’s banks, will offer 34 euros per share for 100% of BME, it said in a statement Monday. That values the company at about 2.8 billion euros ($3.1 billion). The offer was announced minutes after Euronext NV said it is in talks with BME about a possible combination.