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BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," or "BGC"), a leading global brokerage company primarily servicing the financial and real estate markets, today responded to the announcement by CME Group Inc. (NASDAQ: CME) ("CME") and GFI Group Inc. (NYSE: GFIG) ("GFI Group" or "GFI") regarding their proposed transaction.
Howard Lutnick, Chairman and Chief Executive Officer of BGC, commented, "Our $5.25 per share all-cash offer remains superior to the CME's stock and cash proposal. We have made significant progress in receiving the necessary regulatory approvals, including early termination of the HSR waiting period in the US and approval by the FCA in the UK, and our all-cash offer provides immediate liquidity to GFI shareholders upon the close of our tender offer. We are currently evaluating our options with regards to the transaction."
The BGC tender offer is scheduled to expire at 5:00 pm New York City time on December 9, 2014, unless extended. The full terms and conditions of the tender offer are set forth in the offering documents that BGC filed with the Securities and Exchange Commission ("SEC") on October 22, 2014, and as have been and may be amended from time to time.
Innisfree M&A Incorporated is the Information Agent for the tender offer and any questions or requests for the Offer to Purchase and related materials with respect to the tender offer may be directed to them, 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.
