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Output and earnings weak in Britain
CHICAGO, June 11 (UPI) -- The U.S. Justice Department said a proposed merger of Chicago's Mercantile Exchange Holdings Inc. and Board of Trade Holdings Inc. won't threaten competition.
After making its determination, the department said Monday it was ending its investigation into the proposal, The Wall Street Journal reported.
The department's antitrust division said in a statement it concluded that "the evidence does not indicate that either the transaction or the clearing agreement is likely to reduce competition substantially."
The announcement means that CME's takeover of the CBOT would be permitted if shareholders from both companies OK the deal July 9.
Atlanta-based IntercontinentalExchange Inc. has made an offer for CBOT that is worth more than CME's offer.
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