Trading patterns obtained by FO Week indicate that investors believe Chicago Board of Trade (CBoT) could receive a third takeover bid as they stand divided over which of the two current suitors is most likely to win CBoT's hand.
Sources say CBoT could get a higher bid from Chicago Mercantile Exchange (CME), Intercontinental Exchange (ICE) or even a fresh bid. Market rumours that NYSE Euronext could be seeking to buy a US futures exchange have led some to believe John Thain's exchange could be the third party in question (see story below).
"Call options [on CBoT stock] have been very much in demand since 11 May [the day CME upped its bid to $9.9bn]," said Andrew Wilkinson, senior market analyst at Interactive Brokers - highlighting that there could still be room for CBoT's share price to rise...