The Chicago Mercantile Exchange is expected to formally approach the New York Mercantile Exchange as early as this week with an offer for a 10 per cent stake that would top the $135m deal Nymex has already agreed with General Atlantic, the private equity fund.
Sources close to Nymex said the talks between the two exchanges came as a result of strong dissatisfaction among Nymex seatholders about the deal with GA and the Nymex board’s plans to alter the exchange’s structure, affecting their rights, ahead of an expected public offering next year.
