CME Finally Closing NYMEX Deal, Prays It Will Stop Stock Collapse

The CME got one step closer to becoming the world’s largest derivatives market as NYMEX shareholders approved its planned takeover. The deal is expected to close Friday.

NY Post: Nymex shareholders voted to approve CME Group’s $8.3 billion takeover offer, completing a transaction that may stem CME Group’s 51 per cent slide on the New York Stock Exchange this year.

A majority of CME and Nymex investors voted for the deal yesterday in New York and Chicago, the companies said. The transaction cements CME Group’s status as the world’s largest derivatives market.

About 650 of 816 Nymex members voted to approve the deal, Nymex Chairman Richard Schaeffer said on a conference call.

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