Key Developments: BGC Partners Inc (BGCP.O)
22 Sep 2014
Latest Key Developments (Source: Significant Developments)
BGC Partners Inc:Intends to commence a tender offer to acquire all of the outstanding shares of GFI Group Inc for $5.25 per share in cash in a transaction valued at about $675 million.Says BGC owns about 13.5 pct of GFI Group's common stock.Says Cantor Fitzgerald & Co. is serving as financial advisor to the company, and Wachtell, Lipton, Rosen & Katz is serving as the company's legal advisor. Full Article
Newmark Grubb Knight Frank:Completes acquisition of Cornish & Carey Commercial, Northern California's commercial real estate brokerage firm.Says financial details of transaction were not disclosed.Newmark Grubb Knight Frank part of BGC Partners Inc. Full Article
BGC Partners Inc:Expects Q3 2014 revenues to be between about $410 and $435 million.Q3 2014 expects pretax earnings to be in the range of $52 to $60 million.Q3 2014 revenue of $435 million, pre-tax profit of $59 million- Thomson Reuters I/B/E/S. Full Article
Thomson Reuters and BGC Partners Inc:Announced strategic agreement to expand customer access to over-the-counter (OTC) pricing data.BGC's OTC pricing data is available to customers of Thomson Reuters Eikon, flagship financial markets desktop, Thomson Reuters Elektron Real Time, Tick History and DataScope Select, as well as BGC's trading system.Agreement incorporates consolidated licensing solution aligned to individual clients' business models. Full Article
BGC Partners Inc:Expects financial results for Q2 2014 to be around the mid-point of range of previously stated guidance for revenues and earnings.Says for Q2 2014 it expected to generate distributable earnings revenues of between about $420 million and $440 million.Says for Q2 2014 it anticipated pre-tax distributable earnings to be between about $47 million and $55 million.Q2 2014 revenue of $433 million, pre-tax profit of $54 million- Thomson Reuters I/B/E/S. Full Article
BGC Partners announces close of acquisition of Mexican Inter-Dealer Broker Remate Lince, S.A.P.I. de C.V
BGC Partners Inc:Completes acquisition of Remate Lince, S.A.P.I. de C.V. Full Article
BGC Partners Inc:Expects Q2 2014 revenues of between about $420 and $440 mln.Expects Q2 2014 pre-tax distributable earnings on about $47 mln to $55 mln.Q2 2014 revenue of $438 mln, pre-tax profit of $55 mln - Thomson Reuters I/B/E/S. Full Article
BGC Partners Inc expand its Latin American presence with agreement to acquire Premier Mexican Inter-Dealer Broker Remate Lince, S.A.P.I. de C.V.
BGC Partners Inc:Intends to expand its Latin American presence with an agreement to acquire Remate Lince, S.A.P.I. de CV.This marks BGC's first acquisition agreement in Latin America since acquisition of Brazil's Liquidez DTVM Ltda. Full Article
BGC Partners:Expects Q1 2014 to be around the high-end of the range of its previously stated guidance for revenues and earnings.Q1 2014 revenue of $425 mln, pre-tax profit of $48 mln - Thomson Reuters I/B/E/S. Full Article
BGC Partners Inc and the Dubai Multi Commodity Centre:Entered into a partnership to promote a Sharia-compliant Commodity Murabaha mechanism.Partnership offers the trading community a efficient method of trading this niche financial product. Full Article
CHICAGO - GFI Group Inc's board of directors is backing an agreed-upon acquisition offer by exchange-operator CME Group Inc over a hostile takeover bid from BGC Partners Inc , the derivatives broker said on Monday.