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Gain Capital Shares Dive 7% After FXCM Abandons Bid

|Includes:KeyCorp (KEY), LYG, MCQEF, MNXBF, MNXBY, MS, MSFT, MTU, NTRS, OXPS, PNC, PNSN, RBS, RJF, RY, SAN, SCGLY, SCHW, STT, SWQGF, TD, TRAD, TRI, UBS, USB, WFC

Stock market not exactly pleased with the Gain-GFT deal, nor with FXCM's withdrawal of its offer to purchase Gain Capital.

Click to enlargeThe saga of the Gain Capital (NYSE:GCAP) vs. FXCM (NYSE:FXCM) takeover battle culminated late last week with Gain Capital (Forex.com) announcing they were rejecting FXCM's bid, and instead were themselves buying rival GFT. And of course with FXCM then withdrawing its offer to buy Gain.

The result? Not unexpectedly, Gain Capital shares took a pounding. 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 financing, 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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