Nymex Holdings says no guarantees when it comes to possible merger, cost cutting

By Lisa Kerner

Charlotte, N.C., Aug. 22 - Nymex Holdings, Inc. released a company statement to clarify several points made during a previous meeting with certain analysts and institutional investors.

The company has been in preliminary discussions regarding a potential business combination. However, there is no assurance that Nymex will enter into any transaction. In addition, the company can not pinpoint the exact cost savings or revenue synergies that may result from a business combination.

Nymex does expect to develop a cost-savings program that may result in savings from a headcount reduction of about 100 to 150 employees and excess trading floor capacity, as well as a possible sale of the company's headquarters building valued at about $500 million. Nymex cannot assure that it will undertake a cost savings program or provide a timetable if it were to implement such a plan.

Nymex is the parent company of the New York Mercantile Exchange, Inc., the world's largest physical commodities futures and options exchange.

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