Chicago Merc to Join S&P 500
Kerr-McGee is set to be acquired by Anadarko Petroleum (APC) in a $16 billion deal. The S&P's move is effective after the close of trading Aug. 10, which is on or around the date that the Kerr-McGee acquisition is expected to be finalized.
Shares of the CME recently jumped $25.23, or 5.5%, to $483.30, in after-hours trading. Shares of companies added to the S&P 500 often rise because fund managers who track the index have to own the stock.
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