S.E.C. Blocks Chinese Takeover of Chicago Stock Exchange..
Great news guys,
The S.E.C. just blocked a subsidiary of Chongqing Casin Enterprise Group from acquiring the Chicago Stock Exchange for $20M USD.
A federal securities regulator on Thursday struck down the proposed $20 million acquisition of a Chicago-based trading hub, the Chicago Stock Exchange, by a Chinese-owned company.The Securities and Exchange Commission said it blocked the deal because of a lack of transparency in the details, including an inability to identify who exactly would control the exchange.
Why in the hell would the US allow an anonymous Chinese buyer to acquire the CSE? Even though only a small fraction of traded stocks per day move through it, i'm sure it would be too much info to leave in someone else's hands. I'm personally surprised this was ever even a pending deal - what are your thoughts?
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