1.78%XLF 20.53 6.48%QQQQ 45.97 2.38%
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CHICAGO (AP) - CME Group Inc., which runs the Chicago Mercantile Exchange and the Chicago Board of Trade, said Monday it will buy New York Mercantile Exchange parent Nymex Holdings for about $9.48 billion, including $3.4 billion in cash and $6.08 billion of stock.
CME, the world's largest financial exchange company, is paying 12.5 million shares, valued at $6.08 billion based on the stock's Friday closing price of $486.05. Nymex holders will receive 0.1323 Class A shares of CME Group and $36 in cash for each share outstanding.
Priced at $100.30 per share, the deal is valued at about $9.48 billion, based on roughly 94 million shares outstanding at Feb. 20. Shareholders of Nymex, which hosts trading of energy and metals contracts, will own about 18.6 percent of the combined company.
CME hosts trading of "futures" contracts, which allow investors to bet on swings in prices for things like gold, oil or wheat.
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