BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," or "BGC"), a leading global brokerage company servicing the financial and real estate markets, today announced that it is engaged in discussions with GFI Group Inc. (NYSE: GFIG) ("GFI") and expects to reach a consensual agreement related to its tender offer to purchase the shares of GFI for $6.10 per share. The proposed agreement would satisfy all of BGC's previously disclosed tender offer conditions.
Howard Lutnick, Chairman and Chief Executive Officer of BGC, said, "We have been actively engaged in discussions with GFI and expect to reach an agreement on all of the tender offer conditions that we have been seeking over the last several months in order to complete our $6.10 per share all-cash offer. We continue to urge GFI stockholders to tender their shares by today's deadline to ensure that they receive the value to which they are entitled."
The offer is scheduled to expire at 5:00 PM ET today, February 19, 2015.
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.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions. Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. Through the Newmark Grubb Knight Frank brand, BGC offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com.
BGC, BGC Trader, Newmark, Grubb & Ellis, and Grubb are trademarks and service marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.
