BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "the Company," or "BGC"), a leading global brokerage company servicing the financial and real estate markets, today urged GFI Group Inc. (NYSE: GFIG) ("GFI Group" or "GFI") stockholders to tender into its $6.10 per share offer to purchase all outstanding shares of GFI before its expiration on February 19, 2015.
Howard Lutnick, Chairman and Chief Executive Officer of BGC, said: "Stockholders representing approximately 43.3% of GFI shares have already displayed their support for our transaction. With the expiration for our tender offer right around the corner and the 45% threshold so close, we strongly advise those stockholders who have not yet tendered their shares to do so in order to receive the value to which they are entitled. Together, BGC and GFI can create a larger, faster growing, more diversified and financially stronger company that we believe will provide substantial benefits to GFI's customers, counterparties, regulators, brokers and other employees."
As of 5:00 PM New York City time on February 3, 2015, approximately 37.9 million shares were tendered pursuant to the offer. The 37.9 million tendered shares, together with the 17.1 million shares of GFI common stock already owned by BGC, represent approximately 43.3% of GFI's outstanding shares, or approximately 70% of shares not owned by GFI executives or directors.
The expiration date for the tender offer is 5:00 PM New York City time on February 19, 2015, unless extended.
Stockholders with questions about how to tender their shares may call Innisfree M&A Incorporated, BGC's Information Agent, toll-free at (888) 750-5884.
BGC's financial advisor and dealer manager for the tender offer is Cantor Fitzgerald & Co. and its legal advisor is Wachtell, Lipton, Rosen & Katz.