BGC and CME make further offers for GFI

Battle for US broker intensifies

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BGC Partners and CME Group have both upped their bids again to acquire GFI Group in an increasingly hostile battle for the US broker.

BGC, which has increased its bid twice in the same week, is now offering $5.85 per share, up from $5.60 previously, contingent on the offer being countersigned by GFI's management. BGC has also made a non-contingent $5.75 per share bid. CME has raised its cash-and-stock bid for GFI to $5.60, as well as the purchase price for the GFI wholesale brokerage business to

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