Tullett Prebon Jumps as BGC to Pay $100 Million for Poaching
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Tullett Prebon Plc, the British interdealer brokerage, climbed as much as 9.1 percent after BGC Partners Inc. agreed to pay $100 million to resolve claims of broker poaching.
The agreement settles all outstanding litigation with New York-based BGC, London-based Tullett Prebon said today in a statement. The firm’s shares climbed 8.1 percent to 311.20 pence in London after earlier rising as high as 314.20 pence.