Bloomberg News reports that the Index Portfolio and Risk Solutions, or IPRS, unit, which manages indexes including the U.S. Aggregate Bond Index, could fetch about $1bn, one of the people said, asking not to be identified because the matter isn’t public.
The first-round bids were due at the end of June, the people said, and the process hasn’t yet advanced to a second round.
CME is bidding together with McGraw Hill Financial Inc. and the companies would merge the IPRS unit with S&P Dow Jones Indices LLC, one person said.
Robert Madden, a New York-based representative for Nasdaq, confirmed that the exchange operator made an initial bid for the unit, declining to elaborate further.
The Wall Street Journal reported that Bloomberg and Markit Ltd. bid for IPRS.
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