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IDB saga concludes as BGC, GFI reach agreement

GFI Group’s board of directors have unanimously agreed to support BGC Partners’ tender offer for all its outstanding stock at $6.10 per share in cash concluding the hostile takeover that BGC initiated last year. This came following the merger agreement that was made between CME Group and GFI in July, which led to a bidding war between the exchange and BGC.

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