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News Breaks
February 12, 2013
07:39 EDTCG, NDAQ, ICE, CME, NYXNasdaq continues its pursuit of a partner, WSJ reports
Nasdaq OMX Group (NDAQ) has stepped up talks about strategic options, from joint ventures to a sale, sources say, as NYSE Euronext (NYX) moves forward with its merger, reports the Wall Street Journal. Carlyle Group (CG) had approached Nasdaq about a deal to take it private, a sources said, but the talks ended within the past month and aren't ongoing. The exchange operator has had talks with CME Group (CME), including about partnerships around technology and indexes, a source said, adding that the idea of a larger deal didn't go anywhere. Internally, Nasdaq has looked at a potential deal with the London Stock Exchange Group though that possibility has been around but without any movement.Reference Link
News For NDAQ;NYX;ICE;CG;CME From The Last 14 Days
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November 25, 2015
08:26 EDTCGCarlyle Group management to meet with Sandler O'Neill
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November 19, 2015
15:09 EDTNDAQNASDAQ to name Adena Freidman as COO, FBN's Gasparino says
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November 18, 2015
16:24 EDTCGBlackstone, Carlyle, KKR potential buyers of Armacell, Reuters says
Britain's Charterhouse has established a Friday deadline for bids on its insulation materials company Armacell, which may be valued at up to $1.06B, reports Reuters, citing sources. The business has attracted interest from private equity firms, with Blackstone (BX), Carlyle (CG), and KKR (KKR) "cited as potential buyers," according to the report. Reference Link
November 17, 2015
11:35 EDTCGFinancing backing Carlyle's purchase of Symantec's Veritas pulled, Reuters says
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09:03 EDTICEICE Future Europe introduces white sugar futures contract in 2016
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November 16, 2015
07:40 EDTICEBGC and GFI agree to sell Trayport to Intercontinental Exchange for $650M
BGC Partners (BGCP) and its majority-owned division, GFI Group (GFIG) announced that GFI has entered into an agreement to sell its Trayport business to Intercontinental Exchange (ICE) for $650M. Trayport is a provider of trading and aggregation software primarily in the global OTC energy and commodities markets. Trayport, which is domiciled in the UK, generated revenues of approximately $80M over the twelve months ended September 30, 2015. These revenues were predominantly generated via recurring software license and subscription fees. Trayport's revenues increased by approximately 9 percent year-on-year in British pounds during the third quarter of 2015. Under the terms of the purchase agreement, Intercontinental Exchange will acquire the equity of the companies that comprise the Trayport business. The GFI sellers will receive $650 million in ICE common shares based on the closing stock price on November 13, 2015. The aggregate number of ICE common shares is approximately 2.5 million, and up to approximately 0.8 million additional ICE common shares based on a sliding scale from $193.85 to $258.47 in the event that ICE's weighted average stock price over a specified period leading up to closing is less than $258.47. GFI will have the right to sell its ICE common shares pursuant to a registration rights agreement. ICE may elect to substitute cash for part or all of the stock consideration owed to the GFI sellers. The transaction is subject to certain closing conditions, including receipt of required regulatory approvals. The transaction is expected to close as early as the first quarter of 2016, subject to receipt of such approvals. After the close of the transaction, BGC and GFI are expected to remain customers of Trayport. The net tax the Company will pay with respect to the transaction is expected to be at a rate of 15 percent or less. The one-time gain will be reflected in BGC's consolidated results under U.S. generally accepted accounting principles, but will be excluded from the Company's results for distributable earnings.
07:32 EDTICEIntercontinental Exchange to buy Trayport from BGC, GFI for $650M
Intercontinental Exchange (ICE) announced that it has entered into a definitive agreement to acquire Trayport for $650M in ICE common stock. Trayport is a subsidiary of GFI Group (GFIG), which was acquired by BGC Partners (BGCP) in March 2015. Trayport licenses its technology platform to serve brokers for electronic and hybrid trade execution primarily in the European over-the-counter utility markets. The transaction will enable ICE to provide new services to the European OTC energy markets, including European power, natural gas and coal. The $650M purchase price will be paid with 100% equity consideration comprising approximately 2.5M shares of ICE common stock. ICE anticipates an immaterial impact to 2016 adjusted earnings per share. The agreement was unanimously approved by the Boards of Directors of both companies. The transaction is expected to close in the first quarter of 2016, subject to the completion of closing conditions and receipt of applicable regulatory approvals.
November 15, 2015
18:54 EDTNDAQNASDAQ to develop several 'blockchain' applications, Reuters says
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