CBOT, CME complete merger

By | August 27, 2007
The Chicago Board of Trade (CBOT) reached a final shareholder agreement with the Chicago Mercantile Exchange (CME) to merge the two trading companies in early July. The $11.9 billion deal ends a nine-month merger proposal and a four-month bidding war sparked by the Intercontinental Exchange's (ICE) unsolicited bid to best CME's merger offer in March. The combined company, now called CME Group Inc., a CME/Chicago Board of Trade Co., will be the world's largest and most diverse exchange, providing products in all major benchmark asset classes.