Including Shares Owned by BGC, Stockholders Representing Approximately 70% of GFI’s Shares Not Owned by Executives and/or Directors Supported Proposed Transaction
Only an Additional 1.7% of Total Shares Needed
BGC Urges All GFI Stockholders to Tender Their Shares
NEW YORK, Feb. 4, 2015 — BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners,” “the Company,” or “BGC”), a leading global brokerage company primarily servicing the financial and real estate markets, today announced that it has extended the deadline for its fully financed, all-cash tender offer to acquire all of the outstanding shares of GFI Group Inc. (NYSE: GFIG) (“GFI Group” or “GFI”) for $6.10 per share to February 19, 2015.
Howard Lutnick, Chairman and Chief Executive Officer of BGC, said: “We are very excited that, including the 17.1 million shares BGC owns and the 37.9 million tendered, stockholders representing approximately 43.3% of GFI shares supported our transaction. We are grateful to those stockholders who have already tendered, and believe that just a few passive investors and/or retail stockholders may not have realized how close we all are to reaching our 45% goal. Giving stockholders the additional time to realize the tremendous value of our proposal should lead to more shares being tendered. This in turn will make it possible for all stockholders to receive the $6.10 per share in cash to which they are entitled. We are energized by today’s results, and are prepared to move quickly to complete our transaction.”
As of 5:00 PM New York City time on February 3, 2015, approximately 37.9 million shares were tendered pursuant to the offer. The 37.9 million tendered shares, together with the 17.1 million shares of GFI common stock already owned by BGC, represent approximately 43.3% of GFI’s outstanding shares, or approximately 70% of shares not owned by GFI executives or directors.
The expiration date for the tender offer is now 5:00 PM New York City time on February 19, 2015, unless extended. The offer was previously scheduled to expire at 5:00 PM New York City time, on February 3, 2015.
Stockholders with questions about how to tender their shares may call Innisfree M&A Incorporated, BGC’s Information Agent, toll-free at (888) 750-5884.
BGC’s financial advisor and dealer manager for the tender offer is Cantor Fitzgerald & Co. and its legal advisor is Wachtell, Lipton, Rosen & Katz.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions. Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. Through the Newmark Grubb Knight Frank brand, BGC offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC’s customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit https://bgcpartnersprd.wpengine.com.
BGC, BGC Trader, Newmark, Grubb & Ellis, and Grubb are trademarks and service marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.
Important Additional Information
This communication is provided for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any shares of the common stock of GFI Group Inc. (“GFI”) or any other securities. BGC Partners, Inc. and its subsidiary BGC Partners, L.P. have commenced a tender offer for all outstanding shares of common stock of GFI and have filed with the Securities and Exchange Commission (“SEC”) a tender offer statement on Schedule TO (including an Offer to Purchase, a Letter of Transmittal and related documents). These documents, as they may be amended from time to time, contain important information, including the terms and conditions of the tender offer, and stockholders of GFI are advised to carefully read these documents before making any decision with respect to the tender offer. Investors and security holders may obtain a free copy of documents filed with respect to the tender offer at the SEC’s website at www.sec.gov. These materials are also available to GFI Group security holders at no expense to them at http://ir.bgcpartners.com or by calling BGC Partners’ information agent, Innisfree M&A Incorporated, toll-free at (888) 750-5884.
Discussion of Forward-Looking Statements by BGC Partners
Statements in this document regarding BGC Partners’ business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in the Company’s public filings, including BGC’s most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings.
CONTACT: BGC Media, George Sard / Bryan Locke / Bob Rendine, Sard Verbinnen & Co, +1-212-687-8080; Hannah Sloane, +1 212-294-7938, Sarah Laufer, +1 212-915-1008; BGC Investors, Jason McGruder, +1 212-829-4988; Jason Chryssicas, +1 212-915-1987