GFI Shareholders Strongly Reject The Proposed CME-GFI Management Merger Proposal

Loading...
Loading...
BGC Partners, Inc.
BGCP
("BGC Partners," "the Company," or "BGC"), a leading global brokerage company primarily servicing the financial and real estate markets, today issued a statement following the conclusion of the special meeting of GFI Group Inc.
GFIG
("GFI Group" or "GFI") where, based on preliminary tabulation by the independent inspector, shareholders rejected the proposed merger agreement with CME Group Inc.
CME
("CME"). Howard Lutnick, Chairman and Chief Executive Officer of BGC, said: "We believe that the proposed CME-GFI management merger failed by an overwhelming margin. We appreciate this apparently strong rejection by the disinterested GFI shareholders, and feel that it reflects their belief that our offer has always been both very credible and clearly superior to the alternative. "We remain fully committed to completing our all-cash tender offer of $6.10 per share, which remains open to GFI shareholders. Since a rejection by GFI shareholders would end any possibility of the CME-GFI management merger being completed, our tender offer is the only viable option for GFI stockholders seeking to maximize the value for their shares. We therefore strongly urge them to tender their shares into our clearly superior offer and we are prepared to move quickly to complete this transaction." As previously announced, BGC's tender offer is scheduled to expire at 5:00 PM ET on February 3, 2015, unless extended. Stockholders with questions about how to tender their shares may call Innisfree M&A Incorporated, BGC's Information Agent, toll-free at (888) 750-5884. BGC's financial advisor and dealer manager for the tender offer is Cantor Fitzgerald & Co. and its legal advisor is Wachtell, Lipton, Rosen & Katz.
Loading...
Loading...
Posted In: NewsPress Releases
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...