NEW YORK, July 31 /PRNewswire-FirstCall/ -- NYMEX Holdings (NYSE: NMX),
parent company of the New York Mercantile Exchange, Inc., today announced that
Glass Lewis & Co. and Proxy Governance, two leading proxy advisory firms, have
recommended that NYMEX shareholders vote 'FOR' the acquisition by CME Group at
the Special Shareholders Meeting scheduled for August 18.
In making its recommendation, Glass Lewis stated, 'Consolidation among
exchange operators continues to be a viable growth strategy. The transaction
will result in a more competitive exchange, offers NYMEX Holdings shareholders
a financially fair consideration and is expected to be accretive to earnings
for the surviving shareholders of CME Group.'
The Glass Lewis report concluded: '... we recommend that shareholders of
each company vote FOR this proposal.'
The Board of Directors of NYMEX Holdings recommends that shareholders vote
'FOR' the adoption of the agreement and plan of merger.
About NYMEX Holdings, Inc.
NYMEX Holdings, Inc. (NYSE: NMX) is the parent company of New York
Mercantile Exchange, Inc., the world's largest physical commodities exchange,
offering futures and options trading in energy, metals and other contracts and
clearing services for more than 400 off-exchange contracts. Through a hybrid
model of open outcry floor trading and electronic trading on the CME Globex(R)
electronic platform, as well as clearing off-exchange instruments through
NYMEX ClearPort(R) Clearing, NYMEX offers crude oil, petroleum products,
natural gas, coal, electricity, gold, silver, copper, aluminum, platinum group
metals, emissions, and soft commodities contracts for trading and clearing
virtually 24 hours each day. Further information about NYMEX Holdings, Inc.
and the New York Mercantile Exchange, Inc. is available on the NYMEX website
at http://www.nymex.com.
Forward Looking Statements
This press release may contain forward-looking information regarding CME
Group Inc. ('CME Group') and NYMEX Holdings, Inc. ('NYMEX Holdings') and the
combined company after the completion of the merger that are intended to be
covered by the safe harbor for 'forward-looking statements' provided by the
Private Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, the benefits of the business combination transaction
involving CME Group and NYMEX Holdings, including future financial and
operating results, the new company's plans, objectives, expectations and
intentions and other statements that are not historical facts.
