CME ups bid for GFI as competition for broker heats up

The Chicago-based exchange matches BGC bid

cme
CME headquarters

CME Group has increased its offer for interdealer broker GFI Group from $4.55 per share in CME Group stock to $5.25 per share, matching rival broker BGC's offer for the company, which it made on September 9.

CME says the new offer is a 5% premium above December 1's closing price of $5.00, and a 69% premium of GFI's closing share price on July 29 – the day prior to when the transaction was first announced.

The repurchase price of GFI's wholesale brokerage business, led by executive chairman

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