By Michael Calia
BGC Partners Inc. on Wednesday said it again extended its
unsolicited offer for fellow broker-dealer GFI Group Inc. until the
date of a special meeting when shareholders will vote on GFI's deal
with CME Group.
GFI said Monday that its deal with CME had received regulatory
approval and that the special meeting would be on Jan. 27.
BGC's offer--$5.45 a share in cash--was due to expire at 5 p.m.
EST on Wednesday. As of that time, shareholders had tendered 21.7
million shares. Combined with the 17.1 million shares BGC already
owns, the total represents about 30.5% of GFI's oustanding shares,
according to BGC.
The new expiration is set for 5 p.m. EST on Jan. 27.
BGC raised its offer in December after CME boosted the value of
its deal to $5.25 a share in cash and stock. The deal between GFI
and CME had been announced in July, and the deal price was $4.55 a
share.
Shares of GFI closed Tuesday at $5.39.
Write to Michael Calia at michael.calia@wsj.com
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