Urbana Corporation-CME Group to Acquire Kansas City Board of Trade for $126 Million
17 Ottobre 2012 - 8:16PM
Marketwired Canada
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Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A) is very pleased with the
announcement that the Chicago Mercantile Exchange ("CME") intends to purchase
the Kansas City Board of Trade ("KCBOT").
Urbana owns 11 KCBOT seats worth approximately $5.2 million, prior to the
announcement. Should the CME's purchase of the KCBOT be successful, Urbana
expects to receive approximately $7.5 million in cash. It is Urbana's intention
to tender its KCBOT seats to the CME offer.
CME Group to Acquire Kansas City Board of Trade
CHICAGO and KANSAS CITY, October 17, 2012 - CME Group, the world's leading and
most diverse derivatives marketplace, and the Kansas City Board of Trade, the
leading futures market for hard red winter (HRW) wheat, today announced they
have signed a definitive agreement under which CME Group will acquire the Kansas
City Board of Trade (KCBT).
Under the terms of the transaction, CME Group will pay $126M in cash for KCBT.
In addition, KCBT will make a special distribution of excess cash to members
concurrent with closing.
CME Group has committed to maintain a committee made up of KCBT market
participants to advise on HRW wheat contract terms and conditions for at least
three years, and to maintain the historic KCBT trading floor in Kansas City for
a period of at least six months.
Thomas S. Caldwell, C.M. President
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