Chicago Mercantile Exchange Holdings Inc. (NYSE, NASDAQ: CME) yesterday announced a rescheduled date for its previously postponed Special Meeting of Shareholders to vote on its definitive merger agreement with CBOT Holdings, Inc. (NYSE:BOT). The meeting, which was previously scheduled to occur on April 4, 2007, will now take place on Monday, July 9, 2007, the same date as the special meeting of shareholders and members of CBOT.
“The rescheduled meeting date provides the necessary time for CBOT to complete its evaluation of the unsolicited ICE proposal and file and distribute updated proxy materials in compliance with SEC requirements,” said CME Executive Chairman Terry Duffy. “We continue to believe that the combination of CME and CBOT provides unparalleled growth potential and positions the combined company as a premier global exchange offering the broadest product line, deepest liquidity, strong technology and clearing platforms and vibrant open outcry markets. We look forward to putting the vote before our shareholders and proceeding with our merger.”
“We are confident that a thorough review of both proposals will demonstrate that a CBOT/CME merger is financially, strategically and operationally superior,” said CME Chief Executive Officer Craig Donohue. “Our customers and shareholders will enjoy significant benefits and synergies as a result of this strategic combination, including diverse products, combined trading floors and platform and an expanded global reach. We are poised to start capitalizing on those opportunities on the first day after we close the transaction. Furthermore, we can integrate our companies quickly, and our merger does not carry the execution risk associated with ICE’s proposal.”
A new record date for the rescheduled special meeting will be established and updated proxy materials will be distributed to shareholders prior to the meeting date.
