GFI Investors Said to Reject CME, Clearing Path for Lutnick
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GFI Group Inc.’s shareholders rejected CME Group Inc.’s takeover proposal, clearing the way for them to accept a bid by Howard Lutnick’s BGC Partners Inc., a person briefed on the decision said.
CME’s $5.85-a-share proposal failed to win approval from the brokerage’s investors at a meeting Friday in New York, said the person, who asked not to be identified because the results haven’t been publicly announced.