GFI Group Urges Shareholders To Take No Action On BGC Tender Offer - Quick Facts

(RTTNews) - GFI Group Inc. (GFIG), an intermediary and provider of trading technologies and support services to the global OTC and listed markets, issued a statement from the board responding to BGC Partners, Inc. (BGCP) tender offer to acquire GFI's outstanding shares, which is set to expire on February 3, 2015.

Acccording to the statement, "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 acquisitions. The Board has previously reviewed the unsolicited BGC tender offer, which contains provisions and conditions that make it highly unlikely to succeed in providing any value for shareholders."

The board recommends GFI shareholders not to tender into the BGC tender offer and wait for the Board to conduct its strategic review.