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CME Group Inc. (Nasdaq: CME) and NYMEX Holdings, Inc. (NYSE: NMX) today announced that preliminary results indicate the shareholders of both companies have approved the proposed merger of CME Group and NYMEX Holdings, Inc. based on a review of the proxies voted at today's special meetings by the parties' respective proxy solicitors. In addition, preliminary results also show that NYMEX Class A members have voted to approve the related proposals in a separate member vote.
"We are pleased that shareholders of both exchanges have given their support for this transaction," said CME Group Executive Chairman Terry Duffy. "The addition of NYMEX to CME Group creates an even stronger international company as we continue to grow our business globally and compete with exchanges and the over-the-counter market. The combination of these exchanges will create immediate and long-term value for our shareholders and customers as we are now the only exchange to offer access to every global benchmark product. On behalf of CME Group's Board of Directors, I want to thank the shareholders, members and hard-working employees of both exchanges for their support throughout this process."
"Today's votes bring us one step closer to combining our two great exchanges which will allow us to deliver more value to our customers and shareholders," said NYMEX Holdings, Inc. Chairman Richard Schaeffer. "We look forward to building on our shared legacies through product innovation and industry leadership to capitalize on the terrific growth opportunities we see in this global marketplace."
"We are very pleased that our shareholders, members and customers have overwhelmingly supported and approved the combination of our two great companies," said Craig Donohue, CME Group Chief Executive Officer. "Today's approval provides us with tremendous new global growth opportunities in both listed and over-the-counter derivatives markets, and further enhances CME Group's leading position in global financial markets. Following the closing of this transaction, which we expect to occur this Friday, we will begin executing our detailed integration plan to achieve significant cost synergies and operational efficiencies for our shareholders and customers. We also look forward to building our presence in New York City to support growth across all CME Group businesses."
"We appreciate the support from our shareholders and members for combining these two great organizations. Our focus now is on further integrating our organizations and building on the success of our 2006 transaction processing agreement for continued growth and innovation," said NYMEX Holdings, Inc. Chief Executive Officer James Newsome.
The companies anticipate the transaction to close on Friday, August 22. The combined companies will provide customers around the world with access to all major benchmark asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals.
