Thursday, June 21, 2007

UPDATE 1-ICE urges CBOT members to vote against CME deal

(Reuters) - Energy exchange ICE, which has been pursuing the parent of
the Chicago Board of Trade, told CBOT shareholders and members
in a letter that the CBOT board has "endorsed a deal with CME
that undervalued the CBOT from the outset."




ICE Chief Executive Officer Jeffrey Sprecher said in the
letter that CBOT's board has agreed to a "bargain-basement
sale" in a transaction that would leave $1.3 billion of
shareholders' money on the table, and urged them to vote
against the deal.


Read more at Reuters.com Mergers News

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