(Bloomberg) -- Cantor Fitzgerald LP, the U.S.
securities firm that started as a bond broker, will combine its
ESpeed Inc. and BGC Partners units in a $1.3 billion transaction
that combines the voice and electronic trading divisions.
ESpeed will pay 133.9 million new shares to London-based BGC,
the company said late yesterday in a statement. The shares are
valued at $9.75 each, 6.1 percent more than ESpeed's closing
price yesterday. The combined company will have more than $1
billion of revenue this year, according to New York-based ESpeed,
which had $164 million of revenue last year.
Read more at Bloomberg Bonds News
securities firm that started as a bond broker, will combine its
ESpeed Inc. and BGC Partners units in a $1.3 billion transaction
that combines the voice and electronic trading divisions.
ESpeed will pay 133.9 million new shares to London-based BGC,
the company said late yesterday in a statement. The shares are
valued at $9.75 each, 6.1 percent more than ESpeed's closing
price yesterday. The combined company will have more than $1
billion of revenue this year, according to New York-based ESpeed,
which had $164 million of revenue last year.
Read more at Bloomberg Bonds News
No comments:
Post a Comment