Thomson Reuters TRI announced on Monday that it has entered into a definitive agreement to acquire foreign exchange platform FX Alliance FX for $22 per share in an all-cash deal. In the wake of the news, FX shares have jumped more than 40% to $22.01. The deal is expected to close in the third-quarter.
Abel Clark, managing director, Marketplaces, Thomson Reuters stated, "This combination will enable us to provide our customers with integrated management of trades though the entire lifecycle, delivering the benefits of a more streamlined trading process and more efficient execution."
FX Alliance's trading and workflow processes are used by over 1,300 institutional clients across the world. The company's board of directors has unanimously recommended that all shareholders tender their shares in the offer.
Thomson Reuters (TRI) was trading down roughly 0.35% on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies 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!
Already a member?Sign in