Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, May 11, 2007

Chicago Exchanges Revise Merger Agreement

Chicago Mercantile Exchange Holdings and CBOT Holdings announced a revised merger agreement valued at $9.8 billion and involving a $3.5 billion share buyback by CME after the merger.  Some CBOT members expressed dissatisfaction that the price was not higher in response to IntercontinentalExchange's unsolicited offer for CBOT valued at $10.5 billion.  See WSJ, CME Raises Bid for CBOT To Fend Off Rival Offer.

http://lawprofessors.typepad.com/securities/2007/05/chicago_exchang.html

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