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Gain Capital Buys GFT, Rejecting FXCM Takeover

|Includes:Ameriprise Financial, Inc. (AMP), AMTD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, FB, FTGI, FXCM, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, JPM, LUK

Emboldened by much better Q1 results, Gain Capital (Forex.com) is going it alone.

Forex.com logoWell, it seems as if the letter written to the Gain Capital Board by shareholder Springwater Capital -- warning Gain not to make any acquisitions or do anything else to ward off a takeover of Gain -- wasn't written in a vacuum. Clearly, the Springwater people knew what was up behind the scenes -- and their attempts to embarrass Gain CEO Glenn Stevens into selling the company (by implying that he is overpaid at $2M per year, and has a vested interest to keep himself in the CEO seat) have not worked.

For more details see LeapRate's Forex Industry News at leaprate.com/forex-industry-news/entry/g....

For more on Forex industry M&A and financings, including M&A valuation comps and a deal list dating back to 2005, see the LeapRate-Dow Jones Forex Industry Report.

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Stocks: AMP, AMTD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, FB, FTGI, FXCM, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, LUK, JPM