CME bolsters Cbot bid, ICE calls meeting

The Chicago Mercantile Exchange (CME) has increased its offer for local counterpart Cbot Holdings, owner of the Chicago Board of Trade. The 16% bid increase was made in an effort to defeat the higher, unsolicited rival bid from Atlanta-based Intercontinental Exchange (ICE) made in March.

Under the newly revised terms of the merger agreement struck between the Chicago bourses in October, Cbot shareholders would receive 0.35 CME shares for each of their shares, a 16% increase over the earlier o

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