Key Developments: BGC Partners Inc (BGCP.O)

BGCP.O on Nasdaq

8.86USD
17 Dec 2014
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Latest Key Developments (Source: Significant Developments)

BGC Partners Inc announces agreement to acquire the assets and subsidiaries of RP Martin
Monday, 15 Dec 2014 02:00am EST 

BGC Partners Inc:Announces that it has acquired the UK assets and subsidiaries of RP Martin Group.Says BGC expects to acquire further businesses and assets of RP Martin in Sweden and the Netherlands in 2015.Says financial details of the transaction were not disclosed.  Full Article

BGC Partners completes offering of $300 million of 5.375 pct senior notes due 2019
Tuesday, 9 Dec 2014 04:05pm EST 

BGC Partners:Closes its offering of $300 mln aggregate principal amount of 5.375 pct senior notes.Notes are general senior unsecured obligations of BGC Partners, Inc., will pay interest semi-annually at a rate of 5.375 pct per annum, and will mature on Dec. 09, 2019.BGC intends to use net proceeds from offering to finance potential acquisitions and strategic alliances and for general corporate purposes.  Full Article

BGC Partners Inc extends tender offer to acquire GFI Group Inc
Tuesday, 9 Dec 2014 02:17pm EST 

BGC Partners Inc:Says it has extended expiration date of tender offer to acquire all of outstanding shares of GFI Group Inc, it does not currently own for $5.25 per share in cash.Tender offer is scheduled to expire on Jan. 6, 2015, unless extended.Tender offer was previously scheduled to expire on Dec. 9, 2014.Also announced that it has currently satisfied regulatory closing condition under tender offer.As previously disclosed, BGC received approval from FCA in UK to acquire control of GFI and also received early termination of waiting period under Hart-Scott-Rodino Antitrust Act, among other approvals.BGC's financial advisor and dealer manager for tender offer is Cantor Fitzgerald & Co. and legal advisor is Wachtell, Lipton, Rosen & Katz.  Full Article

BGC Partners announces pricing of $300 million of 5.375 pct senior notes due 2019
Friday, 5 Dec 2014 09:00am EST 

BGC Partners Inc:Prices its offering of $300 mln aggregate principal amount of 5.375 pct senior notes.Notes, which were priced yesterday, will be general senior unsecured obligations of BGC Partners, Inc., will pay interest semi-annually at a rate of 5.375 pct per annum, and will mature on Dec. 09, 2019.Intends to use the net proceeds to finance potential strategic alliances and acquisitions and for general corporate purposes.  Full Article

BGC Partners, Inc announces offering of senior notes
Monday, 1 Dec 2014 11:08am EST 

BGC Partners, Inc:Announces its intention to commence an offering, of senior unsecured notes.  Full Article

BGC Partners Inc to acquire Apartment Realty Advisors
Monday, 1 Dec 2014 06:00am EST 

BGC Partners Inc:Has entered into agreements to acquire Apartment Realty Advisors (ARA) and its members representing substantially all of ARA's revenues.ARA is a privately held, full-service investment brokerage network, focusing exclusively on the multi-housing industry.The acquired companies will be purchased for a total cash consideration of about $110 million when the closings are complete.The transactions are expected to close in stages with a majority expected to close during the fourth quarter of 2014.  Full Article

BGC Partners Inc gives Q4 2014 guidance; pretax earnings above analysts' estimates - Conference Call
Thursday, 30 Oct 2014 10:00am EDT 

BGC Partners Inc:Expects Q4 2014 revenues to be between $475 million and $510 million.Expects Q4 2014 pretax earnings to be between $69 million and $79 million.Q4 2014 revenue of $477 million and pre-tax profit of $67 million - Thomson Reuters I/B/E/S.  Full Article

BGC Partners Inc declares quarterly cash dividend
Thursday, 30 Oct 2014 08:03am EDT 

BGC Partners Inc:Declares a quarterly cash dividend of $0.12 per share payable on Dec. 9 to Class A and Class B common stockholders of record as of Nov. 24.The ex-dividend date will be Nov. 20.  Full Article

BGC Partners Inc commences cash tender offer to acquire GFI Group for $5.25 per share
Wednesday, 22 Oct 2014 01:59am EDT 

BGC Partners Inc:Says that it has commenced a fully financed tender offer to acquire all of the outstanding common shares of GFI Group Inc. it does not currently own for $5.25 per share in cash.Says BGC currently owns 13.5 pct. of GFI's outstanding shares.The offer and withdrawal rights will expire at 12:00 midnight Eastern Time at the end of the day on Nov. 19, 2014 unless extended.  Full Article

BGC Partners Inc sees Q3 2014 guidance at top end of prior range
Monday, 29 Sep 2014 04:30pm EDT 

BGC Partners Inc:Now expects Q3 2014 to be above the high end of the range of its previously stated guidance for revenues and earnings.Then expected distributable earnings revenues was between approximately $410 million and $435 million.Then anticipated pre-tax distributable earnings was to increase by between approximately 39 pct and 60 pct and to be in the range of $52 million to $60 million.Q3 2014 revenue of $427 million, pre-tax profit of $55 million- Thomson Reuters I/B/E/S.  Full Article

Interdealer broker BGC Partners to buy rival RP Martin

LONDON - U.S. brokerage BGC Partners has agreed to buy London rival RP Martin, the latest step towards consolidation of an industry under pressure from tough new rules for its traditional banking clients, low volatility and rock-bottom interest rates.

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