IPO confirmed as mystery bidders knocked back
Chicago Board of Trade last week issued a statement
announcing that its board of directors had decided not to act
on the bids to merge or acquire the exchange received in June
(see FO Week Vol 10 No 26). It added that the exchange
would now focus on plans for an IPO.
Ever since CBoT disclosed that it had received "unsolicited,
non-binding expressions of interest in a business combination,"
speculation about who the bidders could be has been feverish.
However, the exchange's most recent statement said that the
board had "concluded that it is not advisable at this time for
the company to pursue a sale or other change of control
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