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 CHICAGO (AP) - The parent company of the Chicago Mercantile Exchange and the Chicago Board of Trade said Monday it would buy the New York Mercantile Exchange in a $9.4 billion cash-and-stock deal that melds the nation's two largest futures exchanges.
CME Group Inc. agreed to pay $3.4 billion in cash and about $6 billion in stock for Nymex Holdings Inc. as part of the buyout that was first discussed earlier this year.
The combined company will continue to operate electronic and open-outcry trading platforms in both New York and Chicago, as long as the New York trading floor meets certain revenue and profit requirements, executives said.
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