German bourse in $2.8bn US deal

Deutsche Boerse has lost out in recent takeover attempts

Germany's Deutsche Boerse is to take over US options trading market International Securities Exchange (ISE) for $2.8bn (£1.4bn).

The Frankfurt-based stock exchange operator said it would pay $67.50 per share bid for ISE.

Deutsche Boerse said the bid would be made through its European derivatives exchange Eurex, which it jointly owns with the Swiss Stock Exchange.

Consolidation has been sweeping through the industry in recent months.

Deutsche Boerse recently lost out to the New York Stock Exchange in its attempts to buy pan-European stock market operator Euronext.

The German exchange also made unsuccessful attempts to acquire the London Stock Exchange.

However, acquiring ISE will transform Deutsche Boerse's position in the lucrative US options trading business.

ISE is currently the second-largest options exchange, behind the Chicago Board Options Exchange.