Chicago Mercantile Exchange Holdings Inc. and CBOT Holdings, Inc. have received clearance from the U.S. Department of Justice to complete their proposed merger without conditions.
“Throughout the review process we have remained confident of receiving approval from the Department of Justice, and today’s announcement allows for the marketplace to have a clear view of our merger prospects,” says CME Executive Chairman Terry Duffy. “Only our merger allows shareholders and customers to benefit from the greater ability of a combined CME and CBOT to generate growth and achieve synergies with significantly lower integration risk. We look forward to completing our transaction and integrating our two exchanges.”
CBOT Chairman Charlie Carey adds: “As a combined entity, CME Group will be well positioned to compete internationally and with the far larger over the counter market. We look forward to the vote of both companies’ shareholders on July 9 to realize the full benefits of the merger and to bring these two great institutions together.”