Source: CBOT
CBOT Holdings, (NYSE: BOT), holding company for the Board of Trade of the City of Chicago, (CBOT), today announced that its Board of Directors, after consultation with its legal and financial advisors, has authorized the company, on the basis permitted by its merger agreement with Chicago Mercantile Exchange Holdings (CME), to begin discussions and exchange information with IntercontinentalExchange, (ICE) relating to ICE’s previously announced proposal.
The merger agreement with CME remains in effect. The Board of Directors of CBOT Holdings, its Special Transaction Committee and the Board of Directors of CBOT have not withdrawn, modified or qualified their respective recommendations that the stockholders of CBOT Holdings vote in favor of the merger agreement with CME and that the members of CBOT vote in favor of certain related matters.
The special meetings of CBOT Holdings stockholders and CBOT members to vote on the proposed transaction with CME remain scheduled to be convened on April 4, 2007.
CBOT Holdings does not intend to comment further on ICE's proposal until CBOT Holdings' Board of Directors, its Special Transaction Committee and CBOT's Board of Directors have completed their reviews of the proposal.