|This Slide: #76 of 100|
Slide #76. GAIN Capital Holdings, Inc. — Global Futures & Forex, LTD
GAIN Capital Holdings, Inc. (GCAP)
Global Futures & Forex, LTD
GAIN Capital Holdings, Inc. (NYSE: GCAP, "the Company") today announced that it has signed a definitive agreement to acquire Global Futures & Forex, LTD (GFT), a global provider of retail forex and derivatives trading with offices in London, Singapore, Tokyo, Sydney and Grand Rapids, Michigan. The purchase price is approximately $107.8 million which, including $80 million of GFT cash at closing, results in a net purchase price of $27.8 million. The purchase price will be paid with $40 million in cash, a five-year $40 million seller note and the issuance of approximately 4.9 million shares of GAIN common stock. Both companies will initially retain their separate brand identities, while benefitting from significant synergies and capabilities across their complementary businesses. The transaction is expected to close in the third quarter of 2013, subject to regulatory approvals and customary closing conditions.
GAIN Capital Holdings is a holding company. Co. is a provider of trading services and solutions, focusing on over-the-counter and exchange-traded markets. Co. operates in two segments. Through its retail segment, Co. provides its customers around the world with access to a range of global financial markets, including spot forex exchange, precious metals trading, as well as contracts for difference, which are investment products with returns linked to the performance of underlying assets. Co.'s futures segment provides execution and risk management services for exchange-traded futures and futures options on main United States and European futures and options exchanges.
Open the GCAP Page at The Online Investor »
Free GCAP Email Alerts:
Get SEC Filing Alerts
Get Dividend Alerts
Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite