Interdealer broker BGC Partners is now tantalizingly close to wrapping up its hostile takeover of rival GFI Group after a bid by CME Group fell apart last Friday, with only 1.7 percent of outstanding GFI shares standing between BGC and the prize it’s sought since September. BGC officials are hoping that by extending its $6.10-per-share… Read More >>
GFI Shareholders Kill CME Offer as BGC Bid Still Stands
Shareholders at interdealer broker GFI Group rejected a takeover bid by trading exchange giant CME Group on Friday, Jan. 30, a move that could clear the way for interdealer broker BGC Partners’ rival offer. However, on Monday, Feb. 2, GFI Group’s board of directors issued a statement stressing that there are alternatives to the BGC… Read More >>
CME Group Sweetens Bid for GFI
Derivatives market operator CME Group has revised its months-old bid to purchase interdealer broker GFI Group, raising its offered price on GFI shares to $5.25 a share from $4.55, in effect matching an earlier offer for GFI by rival interdealer broker BGC Partners. CME Group first revealed its $4.55 per share offer in July, which… Read More >>
