CME Group considers acquisition of Nymex Holdings

By Lisa Kerner

Charlotte, N.C., Jan. 28 - CME Group, Inc. and Nymex Holdings, Inc. agreed to a 30-day exclusive negotiating period regarding CME's possible acquisition of Nymex, the companies confirmed on Monday.

Shareholders of Nymex would receive $36 in cash and 0.1323 of a share of CME in exchange for each Nymex share, according to the terms being discussed.

Nymex would repurchase the 816 New York Mercantile Exchange memberships upon closing of the potential acquisition for up to $500 million.

CME Group expects to maintain trading floors in the New York metropolitan area.

The transaction remains subject to negotiation of other terms, completion of due diligence, negotiation of terms of a definitive agreement and approvals of both companies' boards of directors, a news release stated.

CME and Nymex cannot assure any agreement will be reached and will not comment further until an agreement is reached or the discussions are terminated.

Nymex Holdings is the parent company of the New York Mercantile Exchange, Inc., a physical commodities exchange.

CME Group is a Chicago-based financial exchange. It was formed by the 2007 merger of the Chicago Mercantile Exchange and the Chicago Board of Trade.

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