CMEHI is the parent company of the Chicago Mercantile Exchange. In recent weeks, CMEHI executives have made an $8 billion bid to bring the Chicago Board of Trade under its umbrella. They are still awaiting SEC approval on the deal.
Meanwhile, the electronic trading exchange giant Intercontinental Exchange, or ICE, is trying to convince CBOT shareholders to skip the CMEHI sale and give them a chance with a stock swap valued at $9.9 billion. If the ICE offer is approved it would create the largest derivatives exchange in the world.