GFI has asked its shareholders to wait for the results of its strategic review
The board of broker GFI
Group has called on its shareholders to reject a hostile take
over by rival BGC and wait for the results of its strategic
review before tendering their shares to the offer.
GFI said on Monday:
"The GFI Board urges shareholders to take no action on the BGC
tender offer at this time. As announced on Friday, the GFI
Board is actively engaged in a process to explore strategic
alternatives with any and all interested parties to maximize
shareholder value for all shareholders. These alternatives
could include, among others, joint ventures, mergers and/or
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