Principal content
ICE makes audacious $9.9bn offer for CBOT
The consolidation of global exchanges was thrown into flux as the Intercontinental Exchange of Atlanta shocked the financial world by launching an unsolicited $9.9bn offer for the Chicago Board of Trade .
Unions call for G8 action on private equity
Appeal for international task force
Moelis considering leaving UBS
Could signal wider exodus of talent
Related content and features
Cadbury marked as takeover target
Beverages arm seen as a poison pill
Palestinians form unity government
Israel to continue ostracising PA
Universal offers sale to win bid backing
Song rights disposal to ease BMG deal
Fears over rising eurozone inflation
Core rate highest since Dec 2004
Imperial in €11.5bn bid for Spain’s Altadis
Would create fourth largest tobacco group
China ‘regrets’ US sanctions on Macao bank
BDA accused of laundering money for N Korea
Hutchison arm to pay Essar $415m
Smooths way to clear India deal
Lex
Equity valuations
It’s all very well in practice, but what about in theory? Until recently, the über-pessimists about equities had been forced into this defence. Their techniques have been a poor guide to making money.
Comment
The neocons have been consigned to history

Cheney has been proved wrong: invasion did not catalyse a new Mid-East; unilateralism has reduced US power, says Jacob Weisberg.