Chicago is My Home

01
Feb

Chicago Mercantile Exchange Offers $11 Billion For Nymex Holdings

Author: Adam Fendelman, Category: Business, Technology

The Chicago Mercantile Exchange (CME) is looking to expand its reach further by offering $11 billion in cash and stock for Nymex Holdings, which is an energy exchange in New York. The two exchanges have agreed to an exclusive, 30-day negotiating period.

The CME is the largest commodities exchange and also controls the Chicago Board of Trade. The deal is being touted by analysts as another way to boost a slowing U.S. economy.

By Stephanie Huls