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CME 2Q profit rises on CBOT deal



By STEPHEN BERNARD, AP
22 July 2008 @ 05:14 pm EST

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Quotes
CME 175.78 19.23
BAC 11.47 0.22
UBS 9.45 1.01
NMX 81.15 0

SYMBOL LOOKUP

CME Group initially agreed to buy Nymex in March. It said Tuesday it will receive a combined $3.2 billion bridge loan from Bank of America Corp. and UBS AG.

Nymex shareholders will receive 0.1323 Class A shares of CME Group and $36 in cash for each share outstanding. Based on CME Group's closing price Monday, Nymex shareholders will receive about $79.07 per common share of Nymex they own.

The deal is scheduled to close during the third quarter, pending approval by Nymex members and shareholders as well as CME Group shareholders.

CME Group said during a conference call it plans to keep the Nymex trading floor in New York through 2012, regardless of profitability.

Shares of CME Group rose $40.74, or 12.5 percent, to $366.27 Tuesday.

_____

AP Business Writer Tim Paradis in New York contributed to this report.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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