Sard Verbinnen & Co is guiding PR for BCG Partners' $675M bid for brokerage and clearing firm rival GFI Group, which has already agreed to be acquired by another company.
New York-based BCG announced its $5.25-per-share tender offer Sept. 8 for all of GFI's outstanding shares, a 15% premium. It already owns a 13.5% stake.
The offer comes more than a month after GFI announced it would be acquired by derivatives marketplace CME in an all-stock deal that would unload its wholesale brokerage and clearing business to a group lead by GFI management.
Sard CEO George Sard, along with managing directors Bryan Locke and Bob Rendine (Chicago and New York, respectively) are advising BCG Partners on the communications front.
BCG, which says its combination with GFI would create one of the world's leading financial services brokers, is arguing that the GCI-CME transaction is a sweetheart deal for GFI management, who would buy the wholesale business at a discount. It said GFI has refused to engage in discussions, prompting its tender offer directly to shareholders.
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