As of 8:10 PM 05/17/13 All times are local (Market data is delayed by at least 15 minutes).


The%20Nasdaq%20OMX%20Group%2C%20Inc.%20%28NasdaqGS%3ANDAQ%29%20entered%20into%20an%20agreement%20to%20acquire%20e-speed%20platform%20from%20BGC%20Partners%2C%20Inc.%20%28NasdaqGS%3ABGCP%29%20for%20%241.2%20billion%20in%20cash%20and%20earn%20out%20stock%20on%20April%201%2C%202013.%20Under%20the%20terms%20of%20the%20acquisition%2C%20Nasdaq%20OMX%20will%20pay%20a%20purchase%20price%20of%20%24750%20million%20in%20cash%20plus%20certain%20earn-out%20issuances%20of%20Nasdaq%20OMX%20stock%20over%2015%20years%20that%20approximate%20certain%20tax%20benefits%20to%20Nasdaq%20OMX%20associated%20with%20the%20transaction%2C%20equivalent%20to%20about%2015%20million%20common%20shares.%20Should%20certain%20acceleration%20events%20occur%2C%20including%20NASDAQ%20OMX%20undergoing%20a%20change%20of%20control%2C%20whatever%20remains%20of%20the%20earn-out%20will%20be%20paid%20immediately%20at%20that%20time.%20Under%20the%20terms%20of%20the%20purchase%20agreement%2C%20BGC%20will%20sell%20to%20NASDAQ%20OMX%20certain%20assets%2C%20including%20the%20e-speed%20brand%20name%20and%20various%20contracts%20comprising%20the%20fully%20electronic%20portion%20of%20BGC%u2019s%20benchmark%2C%20on-the-run%2C%20U.S.%20Treasury%20brokerage%2C%20market%20data%20and%20co-location%20service%20businesses.%20BGC%20is%20selling%20only%20it%u2019s%20on-the-run%2C%20benchmark%202-%2C%203-%2C%205-%2C%207-%2C%2010-%2C%20and%2030-year%20fully%20electronic%20trading%20platform%20for%20U.S.%20Treasury%20Notes%20and%20Bonds.%20Upon%20completion%20of%20the%20transaction%2C%20the%20e-speed%20platform%20will%20be%20a%20part%20of%20the%20Nasdaq%20OMX%20Transaction%20Services%20business.%0D%0A%0D%0ACommitted%20bridge%20financing%20is%20in%20place%20and%20The%20Nasdaq%20OMX%20expects%20to%20fund%20the%20cash%20purchase%20price%20with%20cash%20on%20hand%2C%20long-term%20debt%20markets%20and/or%20the%20issuance%20of%20securities.%20e-speed%20platform%20generated%20just%20under%20%24100%20million%20in%20revenues%20in%202012.%20The%20agreement%20also%20includes%20the%20employment%20by%20NASDAQ%20OMX%20of%20certain%20members%20of%20BGC%20staff%20and%20BGC%u2019s%20Rochelle%20Park%20data%20center.%20The%20eSpeed%20platform%20will%20be%20overseen%20by%20Eric%20Noll%2C%20head%20of%20U.S.%20and%20U.K.%20transaction%20services%20for%20Nasdaq.%20The%20deal%20is%20subject%20to%20receipt%20of%20regulatory%20approvals%20and%20the%20expiration%20or%20termination%20of%20the%20waiting%20period%20under%20the%20Hart-Scott-Rodino%20Antitrust%20Improvements%20Act%20and%20is%20expected%20to%20close%20in%20mid-%202013.%20The%20transaction%20is%20expected%20to%20be%20accretive%20to%20earnings%20within%20the%20first%20twelve%20months%20after%20closing%2C%20excluding%20transaction-related%20costs%2C%20and%20to%20generate%20attractive%20returns%20on%20capital%20to%20Nasdaq%20OMX.%20The%20one-time%20gain%20related%20to%20the%20%24750%20million%20payment%20is%20expected%20to%20be%20accretive%20to%20BGC%u2019s%20GAAP%20earnings%20per%20share%20upon%20closing%2C%20but%20will%20not%20be%20included%20in%20BGC%27s%20results%20for%20distributable%20earnings.%20%0D%0A%0D%0AJason%20Gurandiano%2C%20Jon%20Ohrn%2C%20Jim%20Stynes%20and%20Jacques%20Raphael%20of%20Deutsche%20Bank%20AG%20acted%20as%20financial%20advisors%20and%20Stephen%20Arcano%20and%20Jeffrey%20Brill%2C%20Stuart%20Finkelstein%2C%20Sarah%20M.%20Ward%2C%20Yossi%20Vebman%20and%20Phyllis%20Korff%20of%20Skadden%2C%20Arps%2C%20Slate%2C%20Meagher%20%26%20Flom%2C%20L.L.P.%20acted%20as%20legal%20advisors%20to%20The%20Nasdaq%20OMX.%20David%20K.%20Lam%2C%20David%20A.%20Schwartz%2C%20Jeremy%20L.%20Goldstein%20and%20Joshua%20M.%20Holmes%20of%20Wachtell%2C%20Lipton%2C%20Rosen%20%26%20Katz%20acted%20as%20legal%20advisors%20and%20Cantor%20Fitzgerald%20%26%20Co.%20acted%20as%20financial%20advisor%20to%20BGC.%20David%20Wales%20of%20Jones%20Day%20acted%20as%20legal%20advisor%20to%20The%20Nasdaq%20OMX%20Group%2C%20Inc.
The%20Nasdaq%20OMX%20Group%2C%20Inc.%20%28NasdaqGS%3ANDAQ%29%20entered%20into%20an%20agreement%20to%20acquire%20e-speed%20platform%20from%20BGC%20Partners%2C%20Inc.%20%28NasdaqGS%3ABGCP%29%20for%20%241.2%20billion%20in%20cash%20and%20earn%20out%20stock%20on%20April%201%2C%202013.%20Under%20the%20terms%20of%20the%20acquisition%2C%20Nasdaq%20OMX%20will%20pay%20a%20purchase%20price%20of%20%24750%20million%20in%20cash%20plus%20certain%20earn-out%20issuances%20of%20Nasdaq%20OMX%20stock%20over%2015%20years%20that%20approximate%20certain%20tax%20benefits%20to%20Nasdaq%20OMX%20associated%20with%20the%20transaction%2C%20equivalent%20to%20about%2015%20million%20common%20shares.%20Should%20certain%20acceleration%20events%20occur%2C%20including%20NASDAQ%20OMX%20undergoing%20a%20change%20of%20control%2C%20whatever%20remains%20of%20the%20earn-out%20will%20be%20paid%20immediately%20at%20that%20time.%20Under%20the%20terms%20of%20the%20purchase%20agreement%2C%20BGC%20will%20sell%20to%20NASDAQ%20OMX%20certain%20assets%2C%20including%20the%20e-speed%20brand%20name%20and%20various%20contracts%20comprising%20the%20fully%20electronic%20portion%20of%20BGC%u2019s%20benchmark%2C%20on-the-run%2C%20U.S.%20Treasury%20brokerage%2C%20market%20data%20and%20co-location%20service%20businesses.%20BGC%20is%20selling%20only%20it%u2019s%20on-the-run%2C%20benchmark%202-%2C%203-%2C%205-%2C%207-%2C%2010-%2C%20and%2030-year%20fully%20electronic%20trading%20platform%20for%20U.S.%20Treasury%20Notes%20and%20Bonds.%20Upon%20completion%20of%20the%20transaction%2C%20the%20e-speed%20platform%20will%20be%20a%20part%20of%20the%20Nasdaq%20OMX%20Transaction%20Services%20business.%0D%0A%0D%0ACommitted%20bridge%20financing%20is%20in%20place%20and%20The%20Nasdaq%20OMX%20expects%20to%20fund%20the%20cash%20purchase%20price%20with%20cash%20on%20hand%2C%20long-term%20debt%20markets%20and/or%20the%20issuance%20of%20securities.%20e-speed%20platform%20generated%20just%20under%20%24100%20million%20in%20revenues%20in%202012.%20The%20agreement%20also%20includes%20the%20employment%20by%20NASDAQ%20OMX%20of%20certain%20members%20of%20BGC%20staff%20and%20BGC%u2019s%20Rochelle%20Park%20data%20center.%20The%20eSpeed%20platform%20will%20be%20overseen%20by%20Eric%20Noll%2C%20head%20of%20U.S.%20and%20U.K.%20transaction%20services%20for%20Nasdaq.%20The%20deal%20is%20subject%20to%20receipt%20of%20regulatory%20approvals%20and%20the%20expiration%20or%20termination%20of%20the%20waiting%20period%20under%20the%20Hart-Scott-Rodino%20Antitrust%20Improvements%20Act%20and%20is%20expected%20to%20close%20in%20mid-%202013.%20The%20transaction%20is%20expected%20to%20be%20accretive%20to%20earnings%20within%20the%20first%20twelve%20months%20after%20closing%2C%20excluding%20transaction-related%20costs%2C%20and%20to%20generate%20attractive%20returns%20on%20capital%20to%20Nasdaq%20OMX.%20The%20one-time%20gain%20related%20to%20the%20%24750%20million%20payment%20is%20expected%20to%20be%20accretive%20to%20BGC%u2019s%20GAAP%20earnings%20per%20share%20upon%20closing%2C%20but%20will%20not%20be%20included%20in%20BGC%27s%20results%20for%20distributable%20earnings.%20%0D%0A%0D%0AJason%20Gurandiano%2C%20Jon%20Ohrn%2C%20Jim%20Stynes%20and%20Jacques%20Raphael%20of%20Deutsche%20Bank%20AG%20acted%20as%20financial%20advisors%20and%20Stephen%20Arcano%20and%20Jeffrey%20Brill%2C%20Stuart%20Finkelstein%2C%20Sarah%20M.%20Ward%2C%20Yossi%20Vebman%20and%20Phyllis%20Korff%20of%20Skadden%2C%20Arps%2C%20Slate%2C%20Meagher%20%26%20Flom%2C%20L.L.P.%20acted%20as%20legal%20advisors%20to%20The%20Nasdaq%20OMX.%20David%20K.%20Lam%2C%20David%20A.%20Schwartz%2C%20Jeremy%20L.%20Goldstein%20and%20Joshua%20M.%20Holmes%20of%20Wachtell%2C%20Lipton%2C%20Rosen%20%26%20Katz%20acted%20as%20legal%20advisors%20and%20Cantor%20Fitzgerald%20%26%20Co.%20acted%20as%20financial%20advisor%20to%20BGC.%20David%20Wales%20of%20Jones%20Day%20acted%20as%20legal%20advisor%20to%20The%20Nasdaq%20OMX%20Group%2C%20Inc.
Set From and To dates to define custom date range.
Date Range for Stats (05/19/2013 to 05/19/2013)
|
|
0 Number of Dividends Paid
$0.00 Dividends Paid Per Period
|
|
Stock Quotes
Market data is delayed at least 15 minutes.
| Recently Viewed |
|
BGCP:US
|
$5.67 USD |
0.00 |
 |
COMPETITOR HISTORICAL STOCK QUOTES
Day VS. Day Stock Price Comparison
| | | |
| Open | | |
| High | | |
| Low | | |
| Close | | |
| Volume | | |
Sponsored Financial Commentaries
Sponsored Links