INTL FCStone to Acquire GAIN Capital Holdings
GAIN Capital Holdings, Inc. (GAIN) announced on February 27 that the company entered into an acquisition agreement with INTL FCStone, Inc. Under the terms of the agreement, INTL FCStone will purchase GAIN Capital Holdings in an all-cash transcaction. Stockholders will receive $6 per share for a total of approximately $236 in equity value.
Sonal sent an alert to its subscribers at 7:00 am. GAIN Capital last traded for $3.53 at 4:26 pm the previous day. The stock price surged above $5.50 immediately after the news broke. GAIN closed at $5.86 for an event-day gain of 66%.
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