Two more proxy advisory firms support merger of CME, Nymex

By Lisa Kerner

Charlotte, N.C., Aug. 6 - CME Group Inc. said Institutional Shareholder Services Inc. and Egan Jones recommended that CME Group shareholders vote for the share issuance in connection with the company's acquisition of Nymex Holdings, Inc.

ISS and Egan Jones, in separate reports, also recommended that Nymex shareholders vote for the transaction.

"With all necessary regulatory approvals and our receipt of a committed financing for the transaction, we are pleased that all of the leading proxy advisory firms, including ISS and Egan Jones, recognize the value of a CME Group and Nymex combination," CME Group chief executive officer Craig Donohue said in a company news release.

It was previously reported that proxy advisory firms Glass Lewis & Co. and Proxy Governance recommended that Nymex and CME Group shareholders vote in favor of the companies' proposed merger on Aug. 18.

On March 17, CME agreed to acquire Nymex for $3.4 billion in cash and 12.5 million shares of CME class A common stock.

Nymex Holdings is the parent company of the New York Mercantile Exchange, a physical commodities exchange.

CME Group is a Chicago-based financial exchange. It was formed by the 2007 merger of the Chicago Mercantile Exchange and the Chicago Board of Trade.

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