Cantor to merge BGC and eSpeed in defensive move
NEWS
In a statement released last Tuesday (May 29) the New York-based global financial services firm said the merger would create a company with projected annual revenues above $1.1 billion in 2008.
Industry analysts are viewing the move as tactical, coming a month after rival interdealer broker Tullett Prebon put in a bid to acquire eSpeed. In addition, market response towards BGC's planned IPO had been lukewarm. "eSpeed was always a clear target for potential takeover. It's rather a defensive move
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