Possible CME move for Nymex muddies the waters
The Chicago Mercantile Exchange's potential bid for a stake in the New York Mercantile Exchange could further heighten tensions at Nymex over the agreed deal with General Atlantic. That's if the CME comes up with a concrete proposal
A possible move by the Chicago Mercantile Exchange to bid for a 10% equity stake in the New York Mercantile Exchange may simply decrease the likelihood of anyone completing a deal with Nymex, says a source close to the exchange. And that's if it even turns into an actual bid, adds the source.
The CME would have to outbid private equity firm General Atlantic (GA), which agreed in early November to pay Nymex, the world's biggest energy futures exchange, $135 million for a 10% stake. Certainly, the
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