Deal will merge futures leaders
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From Times Wire Services
The parent company of the Chicago Mercantile Exchange and the Chicago Board of Trade said Monday that it would buy the New York Mercantile Exchange in a $9.4-billion cash-and-stock deal that would combine the two largest operators of futures exchanges.
CME Group Inc. agreed to pay $3.4 billion in cash and about $6 billion in stock. The combined company would operate the Nymex “open outcry” trading floor as long as it met certain revenue and profit goals, executives said.
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