On or around 01/13/2017 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: December 16, 2016
According to the Complaint, on September 26, 2016, Bats announced that it had entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Merger Sub will merge with and into Bats, with Bats surviving as a wholly owned subsidiary of CBOE, and, following the completion of the initial merger, the surviving corporation from the initial merger will merge with and into Merger LLC, with Merger LLC surviving the subsequent merger and continuing as a wholly owned subsidiary of CBOE (the “Proposed Transaction”). Pursuant to the terms of the Merger Agreement, Bats shareholders will receive 0.3201 of a share of CBOE common stock and $10.00 in cash, or an equivalent amount in all cash or all CBOE stock (the “Merger Consideration”). Defendants value the Merger Consideration at approximately $32.50 per share.
The Complaint alleges the Merger Consideration is insufficient and undervalues the Company.
Pursuant to a Stipulation by the parties, this case was ordered dismissed on January 13, 2017.
Company & Securities Information
Defendant: Bats Global Markets, Inc.
Industry: Business Services
Headquarters: United States
Ticker Symbol: BATS
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Seung Kim, et al. v. Bats Global Markets, Inc. , et al.