Clifford Chance (CC) and Skadden Arps Meagher & Flom are set to share almost £14m in legal fees for their work on the £3.9bn takeover of FTSE 250 trading tech company Nex Group by US rival CME Group.

The combination of Nex – formerly known as ICAP – and options and futures exchange CME was agreed at the end of March.

According to deal documentation published last week, Nex, which is being advised by CC, estimates that it will incur £6.6m in legal fees and expenses on the deal, while legal costs for Skadden client CME are estimated at £7.1m.

CC's team is being led out of London by corporate partner Steven Fox, with support from employment partner Sonia Gilbert and competition partners Alex Nourry and Tim Cornell.

Skadden is advising CME with a multijurisdictional team in Europe and the US. In the City, its team includes corporate partners Scott Hopkins and John Adebiyi, banking partner Clive Wells, and tax partner Alex Jupp.

Other partners involved include corporate partner Rodd Schreiber and banking partner Lynn McGovern (Chicago), tax partner David Rievman and competition partner Kenneth Schwartz (New York), competition partner Benjamin Crisman (Washington DC) and competition partner Frederic Depoortere (Brussels).

Total fees and expenses for the merger are estimated at nearly £110m. Nex expects to pay a total of £37.9m to its bankers, while CME will pay £21.9m to corporate brokers and £32.8m in financing costs.

Deal documents published earlier this year revealed that CC is also set to share more than £17m in legal fees with Freshfields Bruckhaus Deringer for its advice on the merger of Tesco and wholesale food producer Booker Group. Freshfields took the lead role for longstanding client Tesco on the £3.7bn acquisition of Booker, which was advised by CC.