CBOT Holdings, Inc., holding company for the Chicago Board of Trade (CBOT®) (NYSE: BOT), one of the leading global derivatives exchanges, today confirmed that it has received an unsolicited, non-binding proposal letter from Intercontinental Exchange, Inc. (ICE). The letter states that ICE proposes to merge with CBOT Holdings in a transaction in which holders of CBOT Holdings Class A common stock would receive 1.42 shares of ICE Class A common stock for each share of CBOT Holdings Class A common stock.
CBOT Holdings also said that its Board of Directors, its Special Transaction Committee and CBOT’s Board of Directors will review the proposal as soon as practicable in a manner consistent with their duties and the merger agreement with Chicago Mercantile Exchange Holdings Inc. (CME). Until this review is complete, CBOT Holdings does not intend to comment further on the ICE proposal. The special meetings of CBOT Holdings stockholders and CBOT members remain scheduled to be convened on April 4, 2007. CBOT Holdings will file a current report on Form 8-K with the Securities and Exchange Commission (SEC) containing a copy of the proposal letter from ICE. The current report on Form 8-K will be available on the SEC’s website, http://www.sec.gov, and on CBOT Holdings’ website, http://www.cbot.com.
