20 October 2017
visit www.response.ncr.com

Nymex bids against ICE for Winnipeg exchange - report

19 July 2007  |  4697 views  |  0 chessboard

The New York Mercantile Exchange (Nymex) is reported to be muscling in on Intercontinental Exchange's (ICE) planned purchase of Canada's Winnipeg Commodity Exchange (WCE).

ICE agreed in June to take over the privately-held WCE in a deal worth C$62.08 per share or C$40 million.

However earlier this week the WCE said a third party had made an unsolicited bid for its business which tops the ICE bid. The un-named party has offered a price of C$77.59 per share or C$50 million for the Canadian exchange.

According to a Bloomberg report, which cites a person familiar with the matter, the mystery bidder for WCE is Nymex.

ICE released a statement earlier this week in response to the development saying its takeover deal for WCE is "binding" and it has the right to match any competing proposal.

ICE acquired the New York Board of Trade earlier this year but failed to close a deal to takeover the Chicago Board of Trade (Cbot) which went on to tie the knot with the Chicago Mercantile Exchange (CME) earlier this month.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CME seals Cbot merger deal

CME seals Cbot merger deal

10 July 2007  |  7430 views  |  0 comments
Nymex exits London

Nymex exits London

24 January 2007  |  4815 views  |  0 comments
ICE to buy Nybot in $1bn deal

ICE to buy Nybot in $1bn deal

15 September 2006  |  8686 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
16072 views comments | 12 tweets | 4 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8307 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
7872 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7300 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6632 views comments | 10 tweets | 21 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job