2009-06-16: Forex Magnates Daily Updates

ICAP (IAP.L), the world’s premier interdealer broker, announced on Tuesday that it has agreed to acquire the transactions division of Ocean Tomo LLC, the leading Intellectual Capital Merchant

  • ICAP (IAP.L), the world’s premier interdealer broker, announced on Tuesday that it has agreed to acquire the transactions division of Ocean Tomo LLC, the leading Intellectual Capital Merchant Banc® firm, for an initial consideration of US$10 million at closing, comprising $5 million in cash and $5 million of restricted ICAP plc stock. Application will be made for the listing of 692,226 ordinary shares of 10p each which have been conditionally allotted as satisfaction for the stock consideration. The agreement also provides for a long term license to the Ocean Tomo brand and mutual referral. The transaction closed on 15 June, 2009. http://www.investegate.co.uk/Article.aspx?id=200906161000079574T

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles

The FX Global Code – Is Self-Regulation the Future of the Industry?Go to article >>

Got a news tip? Let Us Know