Shareholders of CBOT Holdings have approved the company's purchase by Chicago Mercantile Exchange Holdings, the company announced this afternoon.

Preliminary voting results indicate the shareholders of both companies have approved the proposed merger of C.M.E. and CBOT Holdings at a special meeting that took place today.

"Today's votes clear the way for us to combine our two great exchanges and begin delivering the value of the merger to our customers and shareholders," said CBOT Chairman Charles P. Carey.

The deal was first announced in October, but was put in jeopardy in recent months by competing bids from InterContinental Exchange Inc. The Wall Street Journal notes that in the end, CBOT shareholders supported the deal with C.M.E. over the competing bid because of the common clearing link between the Chicago exchanges, the complementary nature of the product offerings, and the long-term growth prospects.

The $11.9 billion merger will join the two largest U.S. futures exchanges. The combined company, which will be called C.M.E. Group, will be the world's largest and most diverse futures exchange.