IntercontinentalExchange Inc. on Tuesday made a sweetened merger proposal for CBOT Holdings, continuing the saga for control of the parent of the No.2 U.S. futures exchange, Reuters reports.
The Atlanta-based energy mart is trying to foil a move by Chicago Mercantile Exchange Holdings Inc. to take over the Chicago Board of Trade’s parent.
“This enhanced proposal demonstrate’s ICE’s continuing commitment to address the needs of CBOT stockholders and members,” says ICE CEO Jeffrey Sprecher.
CBOT’s board has thrown its support behind the combination with CME, the largest U.S. futures mart.
The proposal for the two giant Chicago marts to create the world’s largest derivatives exchange was given the green light by the U.S. Justice Department on Monday. Shareholder votes at both companies are scheduled for July 9.