April 8 FXCM Inc said it offered to buy Gain Capital Holdings Inc for $210.4 million in stock to increase its presence in the online foreign exchange market.
FXCM said it will give Gain Capital shareholders 0.3996 shares of its common stock, or $5.35 per share, which represents a premium of about 25 percent of Gain's Monday closing price of $4.27.
The company is also willing to offer up to $50 million in cash instead of stock, FXCM said in a statement on Monday.
FXCM and Gain Capital are two of the largest providers of electronic platforms for individuals to trade in currencies.
FXCM sees the deal being accretive to earnings by 2014, excluding restructuring costs.
Shares of New York-based FXCM closed up 3 percent at $13.39 on the New York Stock Exchange on Monday before the announcement.
FXCM hired Barclays and Financial Technology Partners as advisers on the deal.