NYMEX Holdings (NYSE: NMX), parent company of the New York Mercantile Exchange, Inc., today announced that Glass Lewis & Co. and Proxy Governance, two leading proxy advisory firms, have recommended that NYMEX shareholders vote "FOR" the acquisition by CME Group at the Special Shareholders Meeting scheduled for August 18.
In making its recommendation, Glass Lewis stated, "Consolidation among exchange operators continues to be a viable growth strategy. The transaction will result in a more competitive exchange, offers NYMEX Holdings shareholders a financially fair consideration and is expected to be accretive to earnings for the surviving shareholders of CME Group."
The Glass Lewis report concluded: "... we recommend that shareholders of each company vote FOR this proposal."
The Board of Directors of NYMEX Holdings recommends that shareholders vote "FOR" the adoption of the agreement and plan of merger.
