CME sweetens Nymex deal

CME Group’s board will initiate a share buyback programme of up to $1.1bn of Class A common stock, while also paying an additional $5 per share, should it acquire New York Mercantile Exchange (Nymex). The move, which comes in the light of fierce criticism from Nymex members, effectively sweetens its offer for the commodities exchange.

The Chicago bourse said that the buyback programme will take place over a period...