Most NYMEX holders to take CME stock and cash

Wed Aug 27, 2008 7:53pm EDT
 
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NEW YORK, Aug 27 (Reuters) - CME Group Inc (CME.O), the world's largest derivative exchange, said on Wednesday that 61 percent of the shareholders of the former NYMEX Holdings chose to receive a mixture of CME stock and cash as part of its roughly $8 billion merger that closed last week.

Thirty-nine percent elected to receive cash or did not submit a choice. CME said it would distribute $3.4 billion in cash.

CME won shareholder approval last week for its acquisition of the New York energy and metals market.

The NYMEX acquisition comes just over a year after Chicago-based CME bought the Chicago Board of Trade, then its largest competitor.

NYMEX shareholders who elected to be paid in cash and stock will receive $7.29 in cash and 0.2164 shares of CME Group Class A common for each share of NYMEX Holdings common stock.

Those who opted for cash or made no election of payment will get $81.16 per NYMEX share, CME said. (Reporting by Ilaina Jonas)

 

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