(Bloomberg) -- Chicago Board of Trade's largest
shareholder, Sydney-based hedge fund Caledonia Investments Ltd.,
has voted against the proposed sale to the Chicago Mercantile
Exchange because the price is too low.
Caledonia, owner of 6.6 percent of the shares of CBOT
Holdings Inc., wants Chicago Mercantile Exchange Holdings Inc. to
raise its $10 billion bid by about 14 percent, according to a
person at the fund who declined to be named. The Chicago Merc is
trying to fend off an unsolicited $11.2 billion offer from
Intercontinental Exchange Inc. and get a majority of CBOT holders
on its side for a July 9 vote on the deal.
Read more at Bloomberg Energy News
shareholder, Sydney-based hedge fund Caledonia Investments Ltd.,
has voted against the proposed sale to the Chicago Mercantile
Exchange because the price is too low.
Caledonia, owner of 6.6 percent of the shares of CBOT
Holdings Inc., wants Chicago Mercantile Exchange Holdings Inc. to
raise its $10 billion bid by about 14 percent, according to a
person at the fund who declined to be named. The Chicago Merc is
trying to fend off an unsolicited $11.2 billion offer from
Intercontinental Exchange Inc. and get a majority of CBOT holders
on its side for a July 9 vote on the deal.
Read more at Bloomberg Energy News
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