Chicago Mercantile sets record date for July 9 special meeting of shareholders

By Lisa Kerner

Charlotte, N.C., May 15 - Chicago Mercantile Exchange Holdings Inc. established May 29, 2007 as the record date for the July 9 special meeting of shareholders to vote on its proposed merger with CBOT Holdings, Inc.

The companies' May 11 revised definitive merger agreement gives CBOT Holdings shareholders 0.35 of a share of Chicago Mercantile class A common stock for each share of CBOT Holdings class A common stock, a 16% increase from the original deal.

The revised agreement also gives CBOT Holdings shareholders a 34.6% stake in the combined company, up from 31.2%, according to a company news release.

In addition, CBOT Holdings representatives will fill 10 of the 30 seats on the combined company's board of directors.

Chicago Mercantile Exchange previously postponed its special meeting scheduled for April 4 in order to review an unsolicited merger proposal submitted by IntercontinentalExchange, Inc. That offer was since rejected.

CBOT Holdings operates the Chicago Board of Trade, a Chicago derivatives trading exchange.

Chicago Mercantile Exchange is the first publicly traded U.S. financial exchange.

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