Shareholders on both sides have approved CME Group's takeover of the New York-based exchange Nymex, which, combined with the Chicago Mercantile Exchange, would create a single market dominating the US futures industry.
The cash and share deal, announced in March, values Nymex at $8.3 billion, and will see Nymex members bought out for $750,000 each.
Nymex members finally approved the takeover after six months of wooing from CME, culminating in the decision last month to raise the buyout payment from $612,000. The deal should close at the end of this week, opening the way for a predicted $60 million in cost cuts - which could include job losses at the New York exchange.
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