Chairman’s letter comes day after GFI shareholder vote was postponed
Michael Gooch, executive chairman of GFI
Group, has issued an open letter to his fellow GFI
shareholders, imploring them to vote in favour of the
"consensual, tax-efficient transaction" with derivatives
marketplace CME Group.
The release of the letter is the latest
development in the long-running battle to acquire GFI between
US inter-dealer broker BGC Partners and CME.
"BGC Partners… has made a highly
conditional hostile tender offer to acquire all the outstanding
shares of GFI's common stock for $6.10," said Gooch in the open
letter Tuesday. "You can opt for a "bird in the hand" with CME,
or hold out for "BGC in the bush"."
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