Deal will merge futures leaders
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.
