TOKYO (Reuters) - Japanese online brokerage Monex Group (8698.T) said on Thursday it will buy U.S. trade platform operator TradeStation Group TRAD.O for about $411 million as it looks to expand its business overseas.
Monex will offer $9.75 per share, which is a 32 percent premium to TradeStation’s closing stock price on April 20, with the tender offer for all outstanding shares to begin by May 10.
Major stakeholders in TradeStation include units of institutional investors BlackRock Inc (BLK.N) and Fidelity.
Monex, which is more than 20 percent owned by Japanese leasing firm Orix Corp (8591.T), will hold a news briefing at 0200 GMT in Tokyo on the acquisition.
J.P. Morgan is acting as financial adviser for TradeStation on the deal, while Deutsche Bank is acting as financial adviser for Monex.
Reporting by James Topham and Tim Kelly; Editing by Chris Gallagher