ICE mulls options after sweetened CME bid for CBOT

Fri May 11, 2007 1:08pm EDT
 
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NEW YORK, May 11 (Reuters) - IntercontinentalExchange Inc. (ICE.N) said on Friday it is evaluating options following news that Chicago Mercantile Exchange Holdings CME.N sweetened its bid for the parent of the Chicago Board of Trade to about $9.2 billion, a move that puts pressure on ICE's rival bid for CBOT.

"We are reviewing this morning's announcement and evaluating our options," said ICE in a statement. "ICE continues to believe the combination of CBOT and ICE offers CBOT shareholders and members greater immediate and long-term value as well as better growth prospects than its acquisition by CME."

CBOT Holdings Inc. BOT.N said earlier it was prepared to accept the CME's revised offer even though its value, based on Thursday's closing prices, is still below that offered by upstart energy mart ICE, which values CBOT at about $10 billion.

 
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