German Regulators Okay Tullett’s Acquisition of ICAP Broking Business

[kreslik.news]

London-based Tullett Prebon PLC is on track to close an attempted takeover of rival ICAP’s voice brokering unit and one of its hybrid electronic platforms after German regulators have accepted the proposed acquisition, a source familiar with the matter told Reuters today.

Completion of the £1.1 billion ($1.38 billion) transaction, however, remains subject to approval by various regulatory bodies including the FCA and satisfaction of other closing conditions. The deal also needs approval from regulators in Europe and the US.

Interdealer broker Tullett said that it was working with over 30 regulators globally to secure approval, but it is still confident to ... (read more)