Deals
CME Group Agrees to Purchase Nymex for $8.9 Billion
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CME Group Inc., the world's largest futures market, agreed to acquire Nymex Holdings Inc. for $8.9 billion to add benchmark oil and natural gas futures to the contracts it offers.
CME will give shareholders of Nymex, the biggest energy market, 0.1323 of its stock plus $36 in cash for each Nymex share they own, the companies said today. The offer values Nymex at $95.54 a share, or 13 percent higher than today's closing price. CME will control 98 percent of U.S. exchange-traded derivatives contracts if it buys Nymex, up from 87 percent now.