CME/CBOT merger terms agreed
CME ended a nine-month process to acquire CBOT, by raising its initial offer from $10.6 billion on Friday July 6, ahead of a vote by CBOT shareholders. In doing so, the Chicago-based exchange outbid Ice's offer of $11.7 billion.
Sydney-based Caledonia Investments, CBOT's largest shareholder, then tipped the balance, issuing a statement in support of the CME encouraging all shareholders to support the exchange against Ice.
The new enterprise will be called CME Group, with the deal expected to
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