
CME raises bid for CBOT after lawsuit threat
However, CME's offer, favoured by CBOT management, is still inferior to Ice's in overall financial terms; Ice offered $500,000 compensation to CBOE seatholders, and the revised CME bid values CBOT at a total of $10.64 billion in cash and shares, while Ice is offering $11.42 billion in shares. CME's shares fell slightly after the announcement.
CBOT also said the improvement had allowed it to settle a lawsuit brought in March by shareholders led by the Louisiana Municipal Employees' Retirement System, who claimed the merger threatened shareholder value.
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