Chicago Mercantile Exchange Group Inc , the world's largest futures exchange operator, said it would purchase derivatives broker GFI Group Inc for its businesses that provide software for energy and foreign exchange trading. CME said it would acquire the businesses, Trayport and FENICS, by acquiring GFI in a deal valued at $580 million.CME will pay $4.55 per share in CME Class A common stock for each GFI share, representing a 46 percent premium to GFI's closing price on Tuesday.Following the acquisition, a private consortium led by GFI Executive Chairman Michael Gooch will buy GFI's wholesale brokerage and clearing businesses for $165 million in cash, the companies said on Wednesday.
GFI Group Inc. (GFI) is a provider of wholesale brokerage services, clearing services and electronic execution and trading support products for global financial markets. Shares of GFIG traded higher by 39.87% or $1.24/share to $4.35. In the past year, the shares have traded as low as $2.98 and as high as $4.29. On average, 266657 shares of GFIG exchange hands on a given day and today's volume is recorded at 1240196.
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