October 6, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Bats Global Markets Inc (BATS:BATS), was announced concerning whether the takeover of Bats Global Markets Inc by CBOE Holdings, Inc. (NASDAQ: CBOE) is unfair to BATS:BATS stockholders.

The investigation by a law firm concerns whether certain officers and directors of Bats Global Markets Inc breached their fiduciary duties owed to BATS:BATS investors in connection with the proposed acquisition.

On September 26, 2016, CBOE Holdings, Inc. (NASDAQ: CBOE) and Bats Global Markets Inc (BATS:BATS) announced that they have entered into an agreement, which has been approved by the Board of Directors of each company by unanimous votes of the members of the boards present, under which CBOE Holdings has agreed to acquire Bats Global Markets Inc (BATS:BATS) in a cash and stock transaction valued at approximately $32.50 per Bats share, or a total of approximately $3.2 billion, consisting of 31% cash and 69% CBOE Holdings stock, based on CBOE Holdings closing stock price of $70.30 per share on September 23, 2016.

However, given that shares of Bats Global Markets Inc (BATS:BATS) reached in the open market prior to the takeover announcement as high as $33.28 per share on September 23, 2016, the investigation concerns whether the offer is unfair to BATS:BATS stockholders. More specifically, the investigation concerns whether the Bats Global Markets Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Bats Global Markets Inc reported that its annual Total Revenue rose from $841.50 million in 2013 to over $1.77 billion in 2015 and that its Net Income increased from $46.80 million to $82.20 million.

On October 6, 2016, BATS:BATS shares closed at $30.83 per share.