CME Group Inc. and Nymex Inc. confirmed this morning that the two companies are engaged in preliminary talks concerning a possible acquisition of Nymex by CME in which Nymex shareholders would receive $36 in cash and 0.1323 share of CME stock per Nymex share, an 11% premium to Nymex's close last Friday.
CME is world's largest derivatives exchange and agricultural futures trading floor trading corn, soybeans, wheat and livestock. It was established in the merger of Chicago Mercantile Exchange Holdings Inc. and Chicago Board of Trade Holdings Inc. last year.
Nymex is parent of the New York Mercantile Exchange, the world's largest physical commodities futures and options exchange. It trades energy, metals and so-called "soft" commodities such as cocoa, coffee, cotton and sugar.
Source: Feedstuffs
Powered by iNet Solutions Group ©2011 All Rights Reserved.