Secured $485 million in additional merger consideration for Chicago Board of Trade shareholders
Plaintiff(s):
Louisiana Municipal Police Employees’ Retirement System and other institutional shareholders
Case type / claims:
Shareholder action challenging the merger agreement between Chicago Board of Trade and Chicago Mercantile Exchange, alleging breaches of fiduciary duty and seeking improved merger terms for CBOT shareholders.
Defendant(s):
CBOT Holdings, Inc. and related entities
Jurisdiction:
Delaware Court of Chancery
Year:
2007
Outcome:
- Grant & Eisenhofer negotiated significant improvements to the merger terms, yielding an additional $485 million in consideration to CBOT shareholders.
- Case underscored the role of shareholder litigation in enhancing merger fairness and protecting investor value.
