Hobbs
03-23-2007, 10:37 AM
The Chicago Mercantile Exchange insists that its $8.97 billion bid for its crosstown rival, the Chicago Board of Trade, will prevail in the end. But as the InterContinental Exchange touts its $9.9 billion higher bid, the Merc may have lost one of its highest-profile supporters: a certain Illinois senator running for president.
Though he cosigned a November letter to Attorney General Alberto Gonzales supporting the all-Chicago deal, Barack Obama has chosen not to reiterate that backing, the Financial Times reported Thursday. The C.B.O.T. has maintained support for the Merc offer, but on Monday agreed to open negotiations with ICE and permit limited due diligence. It also pushed back a shareholder vote on the Merc offer.
http://dealbook.blogs.nytimes.com/2007/03/22/obama-drops-support-for-mercs-cbot-bid/
Though he cosigned a November letter to Attorney General Alberto Gonzales supporting the all-Chicago deal, Barack Obama has chosen not to reiterate that backing, the Financial Times reported Thursday. The C.B.O.T. has maintained support for the Merc offer, but on Monday agreed to open negotiations with ICE and permit limited due diligence. It also pushed back a shareholder vote on the Merc offer.
http://dealbook.blogs.nytimes.com/2007/03/22/obama-drops-support-for-mercs-cbot-bid/