Companies Expect to Complete Transaction on August 22 as Previously Announced
CHICAGO and NEW YORK, Aug. 18 /PRNewswire-FirstCall/ -- CME Group Inc.
(Nasdaq: CME) and NYMEX Holdings, Inc. (NYSE: NMX) today announced that
preliminary results indicate the shareholders of both companies have approved
the proposed merger of CME Group and NYMEX Holdings, Inc. based on a review of
the proxies voted at today's special meetings by the parties' respective proxy
solicitors. In addition, preliminary results also show that NYMEX Class A
members have voted to approve the related proposals in a separate member vote.
'We are pleased that shareholders of both exchanges have given their
support for this transaction,' said CME Group Executive Chairman Terry Duffy.
'The addition of NYMEX to CME Group creates an even stronger international
company as we continue to grow our business globally and compete with
exchanges and the over-the-counter market. The combination of these exchanges
will create immediate and long-term value for our shareholders and customers
as we are now the only exchange to offer access to every global benchmark
product. On behalf of CME Group's Board of Directors, I want to thank the
shareholders, members and hard-working employees of both exchanges for their
support throughout this process.'
'Today's votes bring us one step closer to combining our two great
exchanges which will allow us to deliver more value to our customers and
shareholders,' said NYMEX Holdings, Inc. Chairman Richard Schaeffer. 'We look
forward to building on our shared legacies through product innovation and
industry leadership to capitalize on the terrific growth opportunities we see
in this global marketplace.'
'We are very pleased that our shareholders, members and customers have
overwhelmingly supported and approved the combination of our two great
companies,' said Craig Donohue, CME Group Chief Executive Officer. 'Today's
approval provides us with tremendous new global growth opportunities in both
listed and over-the-counter derivatives markets, and further enhances CME
Group's leading position in global financial markets. Following the closing of
this transaction, which we expect to occur this Friday, we will begin
executing our detailed integration plan to achieve significant cost synergies
and operational efficiencies for our shareholders and customers. We also look
forward to building our presence in New York City to support growth across all
CME Group businesses.'
'We appreciate the support from our shareholders and members for combining
these two great organizations. Our focus now is on further integrating our
organizations and building on the success of our 2006 transaction processing
agreement for continued growth and innovation,' said NYMEX Holdings, Inc.
Chief Executive Officer James Newsome.
The companies anticipate the transaction to close on Friday, August 22.
The combined companies will provide customers around the world with access to
all major benchmark asset classes, including interest rates, equity indexes,
foreign exchange, energy, agricultural commodities and metals.
About CME Group
CME Group (http://www.cmegroup.com) is the world's largest and most
diverse derivatives exchange.