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CME Sweetens Deal For CBOT Shareholders

Law360 (July 6, 2007, 12:00 AM EDT) -- Days after a rival’s increased offer threatened the merger between the Chicago Mercantile Exchange and the Chicago Board of Trade, the two Chicago exchanges have agreed to sweeten the deal for their shareholders by increasing the ration of CME shares that CBOT shareholders would receive.

In the “best and final offer,” which was approved by the boards of both exchanges, CBOT shareholders will receive 0.375 shares of CME common stock.

The announcement came just three days after the IntercontinentalExchange Inc. resubmitted its proposal to acquire CBOT...
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