Deals
GFI Group Shareholder Sues to Block CME Group Acquisition
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CME Group Inc.’s $580 million acquisition of GFI Group Inc. undervalues the trading company, a shareholder said in a lawsuit seeking to block the takeover.
CME, owner of the Chicago Mercantile Exchange, agreed in July to buy New York-based GFI to expand into European energy trading. The transaction calls for Chicago-based CME Group to sell GFI’s wholesale brokerage and clearing unit to a group of managers led by Michael Gooch, GFI’s executive chairman, for $165 million plus the assumption of $63 million in liabilities.