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Thomson Reuters wins FSA approval for FXall takeover

Wednesday 15 August 2012

Thomson Reuters said on Wednesday it had won approval of the UK Financial Services Authority to take over US foreign exchange trading platform FX Alliance (FXall), satisfying a condition necessary for consummation of its tender offer.

All of the regulatory conditions of the $625 million cash tender offer have now been satisfied.

FXall is the leading independent global provider of electronic foreign exchange trading solutions to corporations and asset managers.

The tender offer, worth about $22 per share, is scheduled to expire on Friday. Thomson Reuters last week agreed to extend its purchase offer for FXall by three days, following poor take-up of the proposed acquisition among shareholders. ■

SOURCE
Reuters