CME recieves request for information from Justice Department over Cbot merger

Source: CME

Chicago Mercantile Exchange Holdings (NYSE, Nasdaq: CME) today announced that it received a Request for Additional Information (Second Request) from the Antitrust Division of the US Department of Justice regarding its proposed merger with CBOT Holdings, (CBOT).

CME anticipated receiving a Second Request, which is not uncommon in major transactions. CME is working closely with the Department of Justice and plans to cooperate fully and to respond promptly to its request.

Pending approvals by regulators, and shareholders of both companies and CBOT members, as well as completion of customary closing conditions, CME continues to expect the transaction to close by mid-year 2007.

"The combined company, to be named CME Group Inc., is expected to transform global derivatives markets, creating operational and cost efficiencies for customers and exchange members, while delivering significant benefits to shareholders," said CME Executive Chairman Terry Duffy.

"Growth in the global derivatives industry is accelerating and new competitors are emerging in exchange, over-the-counter and other unregulated markets," said Craig Donohue, CME Chief Executive Officer. "As a combined company, we will be better positioned to capitalize on these trends and compete more effectively as our industry continues to transform."

Comments: (0)

Embracing Open Banking with Secure and Interconnected APIs