CME sweetens Cbot offer
The Chicago Mercantile Exchange (CME) has bolstered its offer for the Chicago Board of Trade (Cbot).
It is now offering Cbot shareholders a $485 million dividend as it attempts to compete against an improved bid from rival IntercontinentalExchange (ICE). The move comes two days after ICE said it would allow Cbot shareholders to elect up to $2.5billion in cash in lieu of ICE shares, after the CME’s Atlanta-based rival responded to the US Department of Justice’s decision to approve the CME’s plans to merge with Cbot.
The CME’s enhanced bid offers Cbot shareholders a one-time cash dividend of $9
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