CME Group acquires Nymex Holdings

By Lisa Kerner

Charlotte, N.C., Aug. 22 - CME Group Inc. completed its acquisition of Nymex Holdings, Inc., in a cash and stock deal first announced in March.

The combined companies will provide customers with access to all major benchmark asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals, a CME Group news release said.

Nymex stockholders will receive, at their election, cash, stock or a combination of cash and stock.

The cash consideration is $81.16 per Nymex share, and the stock consideration will be equal to 0.2378 shares of CME Group class A common stock for each Nymex share.

Cash will be paid in lieu of fractional shares.

CME Group said preliminary election results indicate that the following elections were made: approximately 58 million shares for stock elections, approximately 29 million shares for cash elections and no elections with respect to approximately 8 million shares.

Non-elections are deemed to be an election for cash.

CME Group class A common stock will continue to trade on the Nasdaq under the ticker symbol "CME."

Nymex is being delisted and will no longer trade on the New York Stock Exchange.

According to CME Group, the merger creates a company with pro forma 2007 annual revenue of $2.7 billion and average trading volume of approximately 14.2 million contracts per day in the first two quarters of 2008.

CME Group's integration timetable includes:

• Integrating membership systems in the first quarter of 2009;

• Migrating the Nymex and Comex trading floors into one in the second quarter of 2009; and

• Combining clearing systems in the third quarter of 2009.

Nymex Holdings is the parent company of the New York Mercantile Exchange, 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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