Nymex posts for sale sign
24 Aug 2007
by Paul Francis-Grey, Jim Kharouf
After New York Mercantile Exchange (Nymex) revealed it has started negotiations with another exchange the smart money has been on NYSE Euronext as the mystery suitor.
Nymex issued a statement set to clarify remarks made by chairman and CEO, Richard Schaeffer, to Deutsche Bank analysts and confirmed that it had indeed been preliminary discussions regarding a combination, thereby confirming long held rumours.
Nymex has been the source of growing speculation regarding a tie-up or takeover involving NYSE Euronext since June (see FO Week 15/06/07). Nymex’s recent admission has sought to only strengthen market conjecture. The name of NYSE was given further fuel after Nymex said in...