Chicago, Exchanges, Mergers & Acquisitions

Exchange Love Triangle: Chicago Exchanges to Merge

Chicago Board of Trade 2.jpgChicago Board of Trade shareholders accepted an $11.8bn merger proposal from the Chicago Mercantile Exchange yesterday, ending nine months of negotiations and an unremitting rival bid from IntercontinentalExchange. The results of yesterday’s shareholder vote, which will create the world’s largest futures exchange, were announced simultaneously by CBOT and CME last night.
CME Group will come into being next year and, continuing the industry’s amalgamative trend, is likely to pursue exchanges in New York and London.
Left out in the cold after an expensive campaign for CBOT, ICE is now a potential takeover target for New York Stock Exchange Euronext, Bloomberg News reports. According to Will Vicars, director of Caledonia Investments, NYSE Euronext’s “modus operandi to date has been acquisitions, and I think that will probably continue.”
Chicago Exchange Merger May Bring More Deals [Dealbook]
CME Acquisition of CBOT Turns Nymex, ICE Into Takeover Targets [Bloomberg]
CBOT-CME Is Done, at Last [Wall Street Journal]
CME and CBOT Shareholders Approve Merger [Chicago Board of Trade]

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7 Responses to “Exchange Love Triangle: Chicago Exchanges to Merge”

  1. RandomGirl says:

    This merger has insured that Chicago traders will be largely constituted by that which they’re always been: ignorant backwoods peasants. Have you ever met a wheat trader? *shudder*

  2. cleatus says:

    ya’ll come back now, ya hear!

  3. anon says:

    What about the option traders, RandomGirl?

  4. RandomGirl says:

    anon: Options traders are much less fat than the ag traders.

  5. Anonymous says:

    “ignorant backwoods peasants”
    do you suppose teaming up with the peanut farmers in atlanta would have helped much though?
    i cannot say, i have never visited the ICE

  6. Auto says:

    random girl, what about all those fat wops from long island who make wall street such a hellhole?
    you think they’re better than ag traders?

  7. Anonymous says:

    RandomGirl, check your grammar when calling people ignorant: “that which they’re always been”