-- A Rejection by GFI Shareholders Would Mean that BGC's Tender
Offer is the Only Remaining Takeover Offer
-- BGC Urges GFI Shareholders to Tender Their Shares into BGC's
$6.10 Per Share Offer
NEW YORK, Jan. 30, 2015 /PRNewswire/ -- BGC Partners, Inc.
(NASDAQ: BGCP) ("BGC Partners," "the Company," or "BGC"), a leading
global brokerage company primarily servicing the financial and real
estate markets, today issued a statement following the conclusion
of the special meeting of GFI Group Inc. (NYSE: GFIG) ("GFI Group"
or "GFI") where, based on preliminary tabulation by the independent
inspector, shareholders rejected the proposed merger agreement with
CME Group Inc. (NASDAQ: CME) ("CME").
Howard Lutnick, Chairman and
Chief Executive Officer of BGC, said: "We believe that the proposed
CME-GFI management merger failed by an overwhelming margin. We
appreciate this apparently strong rejection by the disinterested
GFI shareholders, and feel that it reflects their belief that our
offer has always been both very credible and clearly superior to
the alternative.
"We remain fully committed to completing our all-cash tender
offer of $6.10 per share, which
remains open to GFI shareholders. Since a rejection by GFI
shareholders would end any possibility of the CME-GFI management
merger being completed, our tender offer is the only viable option
for GFI stockholders seeking to maximize the value for their
shares. We therefore strongly urge them to tender their shares into
our clearly superior offer and we are prepared to move quickly to
complete this transaction."
As previously announced, BGC's tender offer is scheduled to
expire at 5:00 PM ET on February 3, 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.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage company servicing the financial and real estate
markets. Products include fixed income securities, interest rate
swaps, foreign exchange, equities, equity derivatives, credit
derivatives, commercial real estate, commodities, futures, and
structured products. BGC also provides a wide range of services,
including trade execution, broker-dealer services, clearing,
processing, information, and other back-office services to a broad
range of financial and non-financial institutions. Through its BGC
Trader and BGC Market Data brands, BGC offers financial technology
solutions, market data, and analytics related to numerous financial
instruments and markets. Through the Newmark Grubb Knight Frank
brand, BGC offers a wide range of commercial real estate services
including leasing and corporate advisory, investment sales and
financial services, consulting, project and development management,
and property and facilities management. BGC's customers include
many of the world's largest banks, broker-dealers, investment
banks, trading firms, hedge funds, governments, corporations,
property owners, real estate developers, and investment firms.
BGC's common stock trades on the NASDAQ Global Select Market under
the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond
issuance of Senior Notes due June 15,
2042, which trade on the New York Stock Exchange under the
symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief
Executive Officer Howard W. Lutnick. For more information, please
visit http://www.bgcpartners.com.
BGC, BGC Trader, Newmark, Grubb & Ellis, and Grubb are
trademarks and service marks of BGC Partners, Inc. and/or its
affiliates. Knight Frank is a service mark of Knight Frank
(Nominees) Limited.
Important Additional Information
This communication
is provided for informational purposes only and is neither an offer
to purchase nor a solicitation of an offer to sell any shares of
the common stock of GFI Group Inc. ("GFI") or any other securities.
BGC Partners, Inc. and its subsidiary BGC Partners, L.P. have
commenced a tender offer for all outstanding shares of common stock
of GFI and have filed with the Securities and Exchange Commission
("SEC") a tender offer statement on Schedule TO (including an Offer
to Purchase, a Letter of Transmittal and related documents). These
documents, as they may be amended from time to time, contain
important information, including the terms and conditions of the
tender offer, and shareholders of GFI are advised to carefully read
these documents before making any decision with respect to the
tender offer. Investors and security holders may obtain a free copy
of documents filed with respect to the tender offer at the SEC's
website at www.sec.gov. These materials are also available to GFI
Group security holders at no expense to them at
http://ir.bgcpartners.com or by calling BGC Partners' information
agent, Innisfree M&A Incorporated, toll-free at (888)
750-5884.
Discussion of Forward-Looking Statements by BGC
Partners
Statements in this document regarding BGC Partners' business that
are not historical facts are "forward-looking statements" that
involve risks and uncertainties. Except as required by law, BGC
undertakes no obligation to release any revisions to any
forward-looking statements. For a discussion of additional risks
and uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see BGC's
Securities and Exchange Commission filings, including, but not
limited to, the risk factors set forth in the Company's public
filings, including BGC's most recent Form 10-K and any updates to
such risk factors contained in subsequent Form 10-Q or Form 8-K
filings.
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