Executives from The Clearing Corporation (TCC) last week hit
back at suggestions that its deal with Eurex may represent poor
value compared with Chicago Board of Trade (CBoT)'s previous
The Eurex - TCC clearing deal will allow Eurex to take a 15%
stake in TCC, for $15m. The remaining 85% or $85m of TCC will
be held by its current shareholders. According to TCC president
and ceo Dennis Dutterer, some people have taken the false
impression from these figures that TCC values itself at $100m,
or less than half the $207m offer by CBoT in May. That offer,
which was rejected almost immediately by TCC board members,
amounted to a $5m bid over the liquidation price of TCC, he
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