CME Group and NYMEX Receive Acquisition Approval

CME Group Inc. (NYSE: CME) and NYMEX Holdings, Inc. (NYSE: NMX) today received unconditional Department of Justice Clearance to proceed with acquisition and complete their proposed transaction without conditions.

Terry Duffy, CME Group Executive Chairman said that throughout the review process they were confident that the Department of Justice would approve the combination. Today’s announcement represents important progress in completing this transaction and delivering value to shareholders, customers and members. We believe, he added – that our combination with NYMEX will generate $60 million in cost synergies for shareholders as well as generate compelling growth opportunities. We look forward to working together to integrate our exchanges and create long-term value for our shareholder.

On his part – NYMEX Chairman Richard Schaeffer commented by saying, that he continues to believe that CME Group is the best strategic partner for NYMEX. With regulatory clearance behind us, he concluded – this combination promises substantial advantages for all market participants – the best option for us and the next phase in the evolution of NYMEX.

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About Ron Haruni 1068 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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