Department of Justice Decides Not to Challenge Merger between CBOT Holdings, Inc. and Chicago Mercantile Exchange Holdings Inc.
15 June 2007
June 15, 2007 - On June 11, 2007, the Department of Justice officially closed its antitrust investigation of the proposed merger between CBOT Holdings, Inc. and Chicago Mercantile Exchange Holdings Inc.
In a statement released on June 11th, officials said they found that the combination would not foreclose entry to competitors or hinder innovation or competition. It went on to say that the exchanges did not have products that were close substitutes and were further unlikely to introduce new products that would compete directly with one another.
Legal efforts on behalf of CBOT Holdings, Inc. to persuade the Department of Justice not to challenge the transaction were spearheaded by attorneys Chris Kelly. Peter B. Carey of the Law Offices of Peter B. Carey in Chicago served as co-counsel.