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Acquisition Proposal Pushes Shares in GAIN Capital Up by 27%

As we reported earlier, leading forex broker FXCM Inc. (NYSE:FXCM) on April 8, 2013, launched an offer to merge with and acquire online trading services provider GAIN Capital Holdings, Inc. (NYSE: GCAP) for the sum of $210.4 million. 

The Board of Directors of Gain Capital announced today that it had received the letter from the FXCM and will consider the bid in due manner. There have been no assurances yet that any deal will be completed. 
 
Meanwhile, markets reacted to the raft of news about the two companies, driving their shares up. The shares that saw remarkably steep rise were those in Gain Capital, as a share in the company traded for as much as $5.47 during the day, up by stunning 27.2%, or $1.17, from the previous market close of $4.27. This is the highest mark which the share price has reached since February 2012.
 
Shares in FXCM jumped to a daily peak of $13.39 per share, 2.32%, or $0.29, higher than the levels at the previous market close. 
 
Now that's some active development in the market and we'll keep you posted on the matter.
 

About GAIN Capital

 
GAIN Capital Holdings, Inc. is a global provider of online trading services. GAIN’s innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange (forex or FX), contracts for difference (CFDs) and exchange-based products, to a diverse client base of retail and institutional investors.
 Through its retail brand, FOREX.com, it provides retail traders around the world with access to a variety of global OTC financial markets, including forex, precious metals and CFDs on commodities and indices.
 
 

About FXCM Inc.

 
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange, or FX, trading and related services to retail and institutional customers world-wide.
At the heart of FXCM's client offering is No Dealing Desk FX trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, offers Contract for Difference (“CFD”) products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with FX on one platform. 
TAGS: gain capital  forex.com  fxcm  forex trading  forex brokers  acquisition  merger  share price 

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