HSR waiting period extended in proposed merger of CME, Nymex

By Lisa Kerner

Charlotte, N.C., June 5 - CME Group Inc. said it withdrew and refiled its Hart-Scott-Rodino Act merger notification in its proposed acquisition of Nymex Holdings, Inc.

As a result, the new waiting period will expire at 11:59 p.m. on June 18, according to a form 8-K filed with the Securities and Exchange Commission.

CME believes the best way to expedite the merger review process was to give the Department of Justice more time to evaluate the transaction before the expiration of the HSR waiting period, the filing stated.

On March 17, CME announced it had agreed to acquire Nymex for $3.4 billion in cash and 12.5 million shares of CME class A common stock.

It was previously reported that under terms being discussed, Nymex shareholders would receive $36 in cash and 0.1323 of a share of CME in exchange for each Nymex share. Also, Nymex would repurchase the 816 New York Mercantile Exchange, Inc. memberships upon closing of the potential acquisition for up to $500 million, or some $612,000 per membership.

Nymex Holdings is the parent company of the New York Mercantile Exchange, a physical commodities exchange.

CME Group is a Chicago-based financial exchange. It was formed by the 2007 merger of the Chicago Mercantile Exchange and the Chicago Board of Trade.

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