BGC Partners Commences Tender Offer To Acquire GFI Group Shares - Quick Facts

(RTTNews) - BGC Partners Inc. (BGCP), a global brokerage company primarily servicing the financial and real estate markets, announced it has commenced a fully-financed tender offer to acquire all of the outstanding common shares of GFI Group Inc. (GFIG) it does not currently own for $5.25 per share in cash. BGC currently owns 13.5% of GFI's outstanding shares. The offer and withdrawal rights will expire on November 19, 2014.

BGC believes the CME transaction would deprive GFI shareholders of the value of their investment because it provides for GFI management to purchase GFI's brokerage business from CME at a discount.

In a letter sent to the Board of GFI Group, Shaun Lynn, President of BGC, stated: "Our offer is clearly superior to the transaction involving CME and GFI's management. We remain open to seeking a negotiated transaction with GFI and the CME and we are also open to conversations with GFI management regarding matters related to such agreement. However, in the interests of all shareholders, we will not delay commencing our tender offer any further."