CME sweetens Nymex bid for shareholders

CME Group Inc. "sweetened" its bid for Nymex Holdings Inc. with a share buyback of $1.1 billion in stock over the next 18 months and the issuance of a $5 a share dividend if its bid succeeds. Last week the $8.2 billion deal between CME and Nymex won the approval of antitrust regulators.

Continue reading below

The last hurdle for CME is a group of dissident Nymex shareholders that have been pushing to increase the deal above $115 a share. The original value of the transaction was around $11 billion, but the stock of both companies has quickly deteriorated since January due to conditions in the financial markets.

Dissident shareholders such as Cataldo Capozza also have lawsuits pending against the deal. Capozza said he will try to block the deal in its current state and is also considering a move to remove the energy exchange's CEO, James Newsome. - Maria Woehr

See CME, Nymex win Justice OK
See CME, Nymex refile merger proposal

Post a comment

Name:

Email Address:

URL:

Remember personal info?

Comments: (you may use HTML tags for style)

Please only click "Post" once. It may take a few moments to process.

Deal Video

	Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.
More video...

Elsewhere on The Deal.com

Dealwatch

• Confectioners: Cadbury, Hershey, more
• AOL
• Restaurants in the hot seat
• Ponzi schemes, fraud and other misdeeds

The Deal Magazine

• The kids are all right
• The search for auspiciousness
• Be true to your school
• Waiting to exhale

Corporate Dealmaker

• Dell drives in IT services as PC slump deepens
• Proxy prelim: CF wins Terra board seats
• Deal Economy 2010: Avaya's Ali on digesting Nortel
• Disney, Microsoft, Abbott Labs win M&A awards

The Deal Video

• Deal Economy 2010: Centerview's Effron on large deals
• Deal Economy 2010: Bove on Goldman's $500M donation
• Bove's top two candidates for BofA CEO
• PwC's Ross on divestments

Categories

• Bankruptcy
• Corporate restructuring
• Deal international
• Dealmakers
• Featured
• IPOs
• M&A
• Middle market
• Law & regulation
• Private capital
• Conferences
• Technology

Blog roll

• BloggingBuyouts
• BloggingStocks
• Dealbook
• DealBreaker
• Deal Journal
• FT Alphaville
• footnoted.org
• Going Private
• peHUB
• Reuters Dealzone
• SEC Investor
• Prince Of Wall Street
• Bankruptcy Bill
• Information Arbitrage

Archives

• November 2009
• October 2009
• September 2009
• August 2009
• July 2009
• June 2009
• May 2009
• April 2009
• March 2009
• February 2009
• January 2009
• December 2008
• November 2008
• October 2008
• September 2008
• August 2008
• July 2008
• June 2008
• May 2008
• April 2008
• March 2008
• February 2008
• January 2008
• December 2007
• November 2007
• October 2007
• September 2007
• August 2007
• July 2007
• June 2007
• May 2007
• April 2007
• March 2007
• February 2007
• January 2007
• December 2006
• November 2006
• October 2006
• September 2006
• August 2006
• July 2006
• June 2006
• May 2006
• April 2006
• March 2006
• February 2006
• January 2006
• December 2005