Feds clear CBOT-Merc deal

The Justice Department said Monday that the proposed merger of the Chicago Mercantile Exchange and the Chicago Board of Trade poses no antitrust concerns, clearing an obstacle to the two's effort to combine.

Executives at both exchanges have for weeks said they were confident the merger would encounter no regulatory problems, though IntercontinentalExchange Inc., through a competing offer for CBOT, had argued its proposal would have a simpler time with antitrust compliance.

While that selling point disappeared Monday, Atlanta-based IntercontinentalExchange's offer price remains higher based on stock values.

CBOT's leadership said the more than seven-month antitrust review consumed a lot of time and effort and yielded no surprises.

Read Full Article from Chicago Tribune

- Posted: 2007-06-12 10:19:42

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