Japanese online brokerage Monex Group said it will buy U.S. peer TradeStation Group for about $411 million to gain a foothold in the world's largest equities market. Monex, Japan's No.2 online broker by the number of accounts, will offer $9.75 per share, which is a 32 percent premium to TradeStation's closing stock price on April 20. It will start a tender offer for all outstanding shares on May 10. The move overseas comes as Monex and other Japanese online brokers struggle amid bleak growth prospects due to the sluggish economy and shrinking population, as well as tough price competition. Shares of Monex slumped 2.1 percent to 16,700 yen, reflecting investor worries over the financial burden.
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