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`You`ve got a bidding war now` for CBOT
(Crain’s) — The IntercontinentalExchange’s surprise offer for the Chicago Board of Trade could spark a bidding war among consolidation-hungry exchanges worldwide, futures industry insiders say.
The $9.9-billion ICE bid for the CBOT, which tops the Chicago Mercantile Exchange’s $8-billion offer, was revealed Thursday morning, rocking a futures conference in Florida, where much of the early buzz surrounded not only the ICE’s offer but also the potential that additional bidders could surface as well. Source
Why ICE may win the CBOT
The upstart futures exchange has trumped the Chicago Merc in its bid for the Chicago Board of Trade—and the offer could allay antitrust concerns
Barely two months after shaking up the futures-trading world by paying $1 billion to take over the New York Board of Trade, IntercontinentalExchange (ICE) Chief Executive Officer Jeffrey Sprecher is riling the markets anew with his $9.9 billion stock offer for the Chicago Board of Trade (BOT). The surprise offer, announced Mar. 15, stunned executives at both the Chicago Mercantile Exchange (CME) and the CBOT, who have been laboring to close their $8 billion merger. Source
Opalesque Exclusive: Fimat comments on ICE bid for C...................... To view our full article Click here
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