CME Group Inc. (Nasdaq: CME) the world's largest and most diverse derivatives exchange, today announced that Institutional Shareholder Services Inc. (ISS) and Egan Jones have recommended that CME Group shareholders vote "FOR" the share issuance to be undertaken by CME Group in connection with its acquisition of NYMEX Holdings. In separate reports, ISS and Egan Jones also recommended that NYMEX Holdings shareholders vote "FOR" the transaction.
"With the positive recommendations to both CME Group and NYMEX shareholders by ISS and Egan Jones, we have obtained further independent endorsement for this transaction," said CME Group Executive Chairman Terry Duffy. "This now marks our third and fourth independent support for the full and final offer we have proposed -- demonstrating recognition of the value we believe it will bring to members, shareholders and customers around the world. On behalf of the Board of Directors of CME Group, I urge all CME Group shareholders to vote 'FOR' the proposal."
"With all necessary regulatory approvals and our receipt of a committed financing for the transaction, we are pleased that all of the leading proxy advisory firms, including ISS and Egan Jones, recognize the value of a CME Group and NYMEX combination," said CME Group Chief Executive Officer Craig Donohue. "In addition to the $60 million in annual cost synergies that we expect to achieve, the addition of NYMEX's benchmark energy and metals contracts will create significant new growth opportunities for our customers and shareholders. CME Group's acquisition of NYMEX will further enhance CME Group's position as the world's leading financial exchange as we continue to execute our aggressive global growth strategy. We look forward to successfully completing the August 18 shareholder and member votes and to integrating our two great companies."
