01—Abstract
Summary
Summary of the 8-K filed January 3, 2017. Cited figures are marked; the original filing is the authoritative source.
Cboe Global Markets, Inc. (CBOE) filed this 8-K on January 3, 2017, primarily to provide updated financial information related to its previously announced merger with Bats Global Markets, Inc. (Bats).
Investors should note that this filing includes the audited consolidated financial statements of Bats for the years ended December 31, 2015 and 2014, and interim unaudited financial statements as of September 30, 2016. Additionally, CBOE is providing unaudited pro forma condensed combined financial statements, which give effect to the merger and related financing transactions as if they had occurred on January 1, 2015.
This filing also announces the availability of an investor presentation dated January 2017, which likely details the strategic rationale and expected financial implications of the Bats acquisition. Investors are encouraged to review these financial statements and the accompanying investor presentation for a comprehensive understanding of the combined entity's financial position and future outlook, as well as the definitive joint proxy statement/prospectus for detailed information regarding the merger terms and voting procedures.
02—Key points
Key Highlights
- CBOE is filing financial statements of Bats Global Markets, Inc. (Bats) in connection with their pending merger.
- Includes audited consolidated financial statements of Bats for the years ended December 31, 2015, and 2014.
- Provides unaudited interim condensed consolidated financial statements of Bats as of September 30, 2016, and for the nine months ended September 30, 2016.
- Filing includes unaudited pro forma condensed combined financial statements reflecting the merger's impact.
- An investor presentation dated January 2017 has been made available.
- This filing serves as a component for ongoing disclosure related to the merger transaction.
- Reinforces the pending merger between CBOE and Bats, originally announced on September 25, 2016.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to provide investors with the necessary financial statements of Bats Global Markets, Inc. (Bats) and pro forma combined financial statements in anticipation of CBOE's merger with Bats. It also announces the availability of an investor presentation.
What financial information about Bats is included?
The filing includes audited consolidated financial statements of Bats for the years ended December 31, 2015 and 2014, as well as unaudited interim condensed consolidated financial statements as of September 30, 2016, and for the nine months then ended.
What are 'pro forma condensed combined financial statements' and why are they important?
Pro forma condensed combined financial statements show how the combined company (CBOE and Bats) might have performed historically if the merger had already occurred. They are important for investors to understand the potential financial profile and impact of the merger on the combined entity's revenue, expenses, and financial position.
Where can I find more detailed information about the merger?
Investors are urged to read the definitive joint proxy statement/prospectus filed with the SEC on December 12, 2016, which contains important information about the proposed transaction. This document, along with other SEC filings from CBOE and Bats, can be accessed via the SEC's website (www.sec.gov) or the companies' respective investor relations websites.
04—Continue