CME and GFI Group in strategic deal


In a 2-step transaction, CME Group with first acquire all of GFI Group (GFIG +41.2%) for stock worth $4.55 per share. Immediately following the purchase, CME will sell back to a group led by GFI management, GFI Group's wholesale brokerage and clearings businesses, after which they'll continue as private companies.

CME will be left with GFI Group's Trayport - a provider of trading software in the European energy markets - and FENICS - which provides for price discovery, analytics, risk-management, and workflow connectivity services for OTC FX options markets.

The deals are expected to close early next year

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Comments (1)
  • 123anonymous
    , contributor
    Comments (29) | Send Message
     
    THis is good for me. Purchased at $3.39. Thought the price was going down the tubes.... Upside is that GFIG will more than likely be an Approved SEF, and rake in the cash doing that Business (I Hope). CME stock looks better (At this TIme) than GFIG
    30 Jul 2014, 10:35 AM Reply Like
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