- Agreement Would Satisfy All Tender Offer Conditions with
Respect to BGC's Offer for $6.10 per
Share
- GFI Stockholders Are Urged to Tender into the
$6.10 Offer by Today's 5:00 PM. ET Deadline
NEW YORK, Feb. 19, 2015 /PRNewswire/ -- BGC Partners, Inc.
(NASDAQ: BGCP) ("BGC Partners," or "BGC"), a leading global
brokerage company servicing the financial and real estate markets,
today announced that it is engaged in discussions with GFI Group
Inc. (NYSE: GFIG) ("GFI") and expects to reach a consensual
agreement related to its tender offer to purchase the shares of GFI
for $6.10 per share. The proposed
agreement would satisfy all of BGC's previously disclosed tender
offer conditions.
Howard Lutnick, Chairman and
Chief Executive Officer of BGC, said, "We have been actively
engaged in discussions with GFI and expect to reach an agreement on
all of the tender offer conditions that we have been seeking over
the last several months in order to complete our $6.10 per share all-cash offer. We continue to
urge GFI stockholders to tender their shares by today's deadline to
ensure that they receive the value to which they are entitled."
The offer is scheduled to expire at 5:00
PM ET today, February 19,
2015.
Stockholders with questions about how to tender their shares may
call Innisfree M&A Incorporated, BGC's Information Agent,
toll-free at (888) 750-5884.
BGC's financial advisor and dealer manager for the tender offer
is Cantor Fitzgerald & Co. and its legal advisor is Wachtell,
Lipton, Rosen & Katz.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage company servicing the financial and real estate
markets. Products include fixed income securities, interest rate
swaps, foreign exchange, equities, equity derivatives, credit
derivatives, commercial real estate, commodities, futures, and
structured products. BGC also provides a wide range of services,
including trade execution, broker-dealer services, clearing,
processing, information, and other back-office services to a broad
range of financial and non-financial institutions. Through its BGC
Trader and BGC Market Data brands, BGC offers financial technology
solutions, market data, and analytics related to numerous financial
instruments and markets. Through the Newmark Grubb Knight Frank
brand, BGC offers a wide range of commercial real estate services
including leasing and corporate advisory, investment sales and
financial services, consulting, project and development management,
and property and facilities management. BGC's customers include
many of the world's largest banks, broker-dealers, investment
banks, trading firms, hedge funds, governments, corporations,
property owners, real estate developers, and investment firms.
BGC's common stock trades on the NASDAQ Global Select Market under
the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond
issuance of Senior Notes due June 15,
2042, which trade on the New York Stock Exchange under the
symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief
Executive Officer Howard W. Lutnick. For more information, please
visit http://www.bgcpartners.com.
BGC, BGC Trader, Newmark, Grubb & Ellis, and Grubb are
trademarks and service marks of BGC Partners, Inc. and/or its
affiliates. Knight Frank is a service mark of Knight Frank
(Nominees) Limited.
Important Additional Information
This communication is
provided for informational purposes only and is neither an offer to
purchase nor a solicitation of an offer to sell any shares of the
common stock of GFI Group Inc. ("GFI") or any other securities. BGC
Partners, Inc. and its subsidiary BGC Partners, L.P. have commenced
a tender offer for all outstanding shares of common stock of GFI
and have filed with the Securities and Exchange Commission ("SEC")
a tender offer statement on Schedule TO (including an Offer to
Purchase, a Letter of Transmittal and related documents). These
documents, as they may be amended from time to time, contain
important information, including the terms and conditions of the
tender offer, and stockholders of GFI are advised to carefully read
these documents before making any decision with respect to the
tender offer. Investors and security holders may obtain a free copy
of documents filed with respect to the tender offer at the SEC's
website at www.sec.gov. These materials are also available to GFI
Group security holders at no expense to them at
http://ir.bgcpartners.com or by calling BGC Partners' information
agent, Innisfree M&A Incorporated, toll-free at (888)
750-5884.
Discussion of Forward-Looking Statements by BGC
Partners
Statements in this document regarding BGC Partners'
business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. Except as
required by law, BGC undertakes no obligation to release any
revisions to any forward-looking statements. For a discussion of
additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see BGC's Securities and Exchange Commission filings,
including, but not limited to, the risk factors set forth in BGC's
public filings, including BGC's most recent Form 10-K and any
updates to such risk factors contained in subsequent Form 10-Q or
Form 8-K filings.
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