CME improves CBOT merger agreement terms by 485 mln usd |
Forbes - Jun 14, 2007 |
Chicago Mercantile Exchange Holdings Inc said it has revised the terms of its merger agreement with Chicago Board of Trade Holdings Inc, after Intercontinental Exchange Inc on Tuesday resubmitted a proposal to acquire CBOT which included several enhancements, including allowing CBOT shareholders to receive cash instead of stock.
CBOT's board is recommending that shareholders approve CME's 10.1 bln usd offer, which is about 1.1 bln usd less than ICE's bid.
The sweetened agreement between CME and CBOT -- which has been unanimously approved by the boards of directors of both companies -- means that all CBOT shareholders will receive a one-time cash dividend of 9.14 usd per CBOT share, or a total of 485 mln usd.
Read Full Article from Forbes
- Posted: 2007-06-14 10:07:23
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