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Is it worth getting into ICE or BOT ahead of a possible buyout? Is Saks less immune in an economic downturn than Federated? The guys go face-to-face with some inquiring minds.
The Chicago Mercantile Exchange says it has a “definitive merger agreement” with the Chicago Board of Trade, but the IntercontinentalExchange says its proposed deal offers better long-term growth prospects.
Jeffrey Sprecher, chief executive officer of the IntercontinentalExchange, told CNBC’s “Morning Call” that his offer for the Chicago Board of Trade comes with the prospect of solid future growth.
Craig Donohue, chief executive officer of the Chicago Mercantile Exchange, told CNBC’s “Squawk Box” that he doesn't think his company will need to "make any concessions" to complete its planned merger with the Chicago Board of Trade by the middle of the year.
The battle for control of the second-largest U.S. futures exchange took its latest twist Tuesday as CBOT Holdings postponed a shareholder vote on its planned merger with Chicago Mercantile Holdings.
Chicago Mercantile Exchange executives plan to meet with Chicago Board of Trade members and shareholders Thursday, in order to nail down the announced acquisition of CBOT by CME,.
CBOT Holdings , the parent of the Chicago Board of Trade, said Monday its board has authorized the company, on the basis permitted by its merger agreement with Chicago Mercantile Exchange Holdings, to begin merger talks with IntercontinentalExchange.
IntercontinentalExchange Chairman and Chief Executive Jeffrey Sprecher expects his company's offer to buy the Chicago Board of Trade will get a "fair review." The electronic energy exchange made an unsolicited bid to acquire futures market CBOT Holdings, challenging the existing offer by Chicago Mercantile Exchange Holdings.
Stocks closed higher amid continued volatility, reflecting guarded investor optimism ahead of next week's Fed meeting. "The mood of the market is as variable as the weather here in Manhattan, it's hot one day and cold the next. It's likely to remain that way at least through the end of the quarter," said Charles Crane, managing member with Scotsman Capital Management.
Crude oil futures were steady after OPEC decided to keep production levels unchanged, with ministers vowing to press members to implement cuts agreed to since last autumn.
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