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.
“We have a definitive merger agreement with the Chicago Board of Trade,” he said Friday. “The Board of Trade’s directors continues to recommend our merger to the shareholders of CBOT.”
The Chicago Mercantile Exchange had offered about $8 billion for the crosstown CBOT. However, last week, IntercontinentalExchange, an electronic futures market known as ICE, challenged that offer with an unsolicited bid valued at about $9.9 billion.
The CBOT postponed indefinitely its shareholder vote on the CME bid while its board considers ICE's offer.