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GFI Group GFIG

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    1. BGC Partners’ Offer for GFI Group Is Still Alive

      Commentary

      Thu, 20 Nov 2014

      tender offer is still on the table for GFI Group shareholders, so there’s still a ..... estimate or moat ratings for BGC Partners, GFI Group , or CME Group at this time. Additional ..... over 13%, would have had 31.7% of GFI Group ’s outstanding shares if it had accepted

    2. GFI Board's Lack of Support for BGC Tender Offer Validates CME's Wait-and-See Approach

      Commentary

      Tue, 4 Nov 2014

      We believe CME Group's lack of a response to BGC Partners' tender offer for GFI Group has been partially validated. GFI's board of directors announced that it unanimously determined to reject BGC's $5.25 per

    3. For BGC Partners, Acquired Revenue Growth Is Fine, but Earnings per Share Growth Would Be Better

      Commentary

      Thu, 30 Oct 2014

      is being created for stockholders. Revenue growth for 2015 should look great with Cornish & Carey adding around 6%, and a GFI Group merger could increase revenue nearly 40%. That said, BGC Partners needs to translate its revenue growth into earnings per

    4. Rising Volume Will Help CME Group in 2014's Final Stretch

      Commentary

      Thu, 30 Oct 2014

      relative to this year's results. Although we believe CME has the ability to sweeten its $4.55-per-share offer for GFI Group , we don’t think the company is likely to overstretch itself to beat BGC Partners' rival $5.25-per-share offer

    5. GFI Group ’s Sequentially Flat Results Are Reassuring

      Commentary

      Tue, 28 Oct 2014

      While GFI Group has an acquisition and a tender offer on ..... maintaining our fair value estimate for no-moat GFI Group , which assumes that it is acquired by either BGC Partners or CME Group. GFI Group ’s flat results are actually a positive

    6. BGC Partners’ Tender Offer Is a Win-Win for Both BGC and GFI Group

      Commentary

      Wed, 22 Oct 2014

      s $5.25 all-cash tender offer for GFI Group shares as a win-win situation for ..... its prior $4.55 per share offer for GFI Group , CME’s management would have to be ..... positive whether it ultimately acquires GFI Group or not. If an acquisition occurs

    7. BGC set to launch tender offer for GFI - WSJ

      Headlines

      Wed, 22 Oct 2014

      Oct 22 (Reuters) - Interdealer broker BGC Partners Inc plans to launch its $5.25-per-share tender offer for rival GFI Group Inc as early as Wednesday after attempts to strike a deal failed, the Wall Street Journal reported, citing people familiar with the matter.

    8. Cost Savings at ICAP Are Largest Offset to Low Voice Broking Profits

      Commentary

      Wed, 1 Oct 2014

      the voice business and 6% decline in electronic markets. While outside ICAP's control, we continue to see the sale of GFI Group to CME Group or BGC Partners as a positive for the inter-dealer broker industry. We believe consolidation in the industry

    9. BGC Partners Tops CME Group in Bid for GFI Group

      Headlines

      Wed, 10 Sep 2014

      25 per share tender offer for GFI Group GFIG shares. This offer is 15% above ..... tendered for it to own a majority of GFI Group when added to its existing 13 ..... ownership interest. With the change in GFI Group 's management, large influx of

    10. UPDATE 3-BGC bids $675 mln for rival GFI Group , topping CME offer

      Headlines

      Tue, 9 Sep 2014

      * Represents 15 pct premium to July offer from CME Group (New throughout, adds expectations for revised CME bid, stock prices, detail on shareholder lawsuit, adds second byline and CHICAGO...

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