Sunday, 26 April 2015
Last updated 1 day ago
May 20 2008 | 11:40am ET
The Children’s Investment Fund has taken stakes in both CME Group and NYMEX Holdings as the two exchange operators push forward with their plans to merge.
TCI revealed a 0.95% stake in CME, which runs the Chicago Mercantile Exchange, in a regulatory filing. The British-based activist hedge fund also owns a smaller piece of NYMEX Holdings, which runs the New York Mercantile Exchange. The two bourses are pushing a $9 billion merger, which is opposed by many NYMEX members and shareholders.
TCI did not indicate what it plans to do with its stake, but the hedge fund has a history of opposing exchange mergers. Last year, the firm failed in its bid to block the merger of the New York Stock Exchange and Euronext, but it also has one spectacular success to its name. The hedge fund helped block Deutsche Börse’s bid for the London Stock Exchange three years ago, leading to much grumbling about alternative investment firms as “locusts” in Germany.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…