BGC Announces Contingent Increase Of Tender Offer To Acquire GFI To $5.60/Shr

(RTTNews) - BGC Partners Inc. (BGCP) announced it has delivered an executed agreement to GFI Group Inc. (GFIG) that, if countersigned by GFI, provides that BGC would increase its fully financed, all-cash tender offer to acquire all of the outstanding shares of GFI to $5.60 per share.

Howard Lutnick, CEO of BGC, said: "Each of our offers has obviously been superior to those of CME and GFI management. The special committee of GFI must act in the best interest of all GFI shareholders and determine that our bid is superior to the proposed CME-GFI Management transaction."

The expiration date for the tender offer is 5:00 PM New York City time on January 27, 2015, unless extended.