PRINT THIS PAGE New York Mercantile Exchange turns down $1.6bn private equity bid09/08/2004. Source: AltAssets. 
 The New York Mercantile Exchange (Nymex) has turned down a takeover bid from US private equity firm Parthenon Capital. The offer is believed to have valued the world's largest energy futures exchange at around $1.6bn.
The announcement comes just days after James Newsome, the former head of the Commodities and Futures Trading Commission and Nymex's regulator, took his post as the new president of the exchange. He replaces Robert Collins, who favoured the transaction with Parthenon, according to the Financial Times.
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