 "IntercontinentalExchange today announced it has delivered a proposed merger agreement to the Board of Directors of CBOT holdings that accepts substantially all of the terms of CBOT's merger agreement with Chicago Exchange Holdings." A statement from ICE said. IntercontinentalExchange has handed a formal merger proposal to the board of the directors of the Chicago Board of Trade, ICE said Monday, following up the unsolicited offer made to the exchange last Thursday. "However, technicals for crude futures are not looking particularly healthy at the moment and I see April NYMEX WTI slipping towards the $56/b level today." A London-based broker said on Monday ahead of the contracts expiry. International oil futures were holding stable to slightly weaker on Monday, backed by recovering gasoline futures, after a strong sell off seen in late Friday trading, brokers said. Updated: March 19, 2007
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