GFI Board Rebuffs BGC Partners' Unsolicited Tender Offer - Quick Facts

GFI Group Inc. (GFIG), an intermediary and provider of trading technologies and support services to the global OTC and listed markets, said its board other than Messrs. Gooch and Heffron, both of whom abstained, unanimously determined to reject the unsolicited tender offer from BGC Partners, Inc. (BGCP) to acquire all of the company's outstanding shares for $5.25 per share cash.

The board considered the unanimous determination and recommendation of the special committee of the board to reject the offer, following consultation with its independent financial advisor and outside legal counsel. The Special Committee and the board determined that the offer is highly conditional and is not in the best interests of GFI or its stockholders. Hence, the board urges that GFI stockholders reject the offer and not tender their shares into the offer. The board has not changed its recommendation with respect to the pending transaction with CME Group Inc. (CME).

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