GFI board to review BGC buyout offer

Recommendations due no later than November 4

competitive-business-boxing-suit

The board of brokerage firm GFI Group confirmed it will review the recent buyout offer from rival BGC Partners and announce its formal position no later than November 4.

BGC made a hostile bid for the US-based broker on September 9, offering $5.25 in cash for each GFI share in a transaction valued at about $675 million. BGC already owns 13.5% of GFI's common stock.

The offer threatens to disrupt GFI's sale of its energy trading business, Trayport, and its software provider, Fenics, to CME. This

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: