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
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
FXCM hired Barclays and Financial Technology Partners as
advisers on the deal.