CBOE, the operator of the largest options exchange in the United States by volume, said it would buy Bats Global Markets for about $3.2 billion, just over five months after BATS made its market debut.



CBOE's cash-and stock offer values BATS, the No. 2 stock exchange operator in the United States, at about $32.50 per share, a premium of 2.2 percent to BATS closing price on Friday.

CBOE Chief Executive Edward Tilly will lead the combined company, CBOE said on Monday.