Gain Capital shares plummet nearly 7%
Gain Capital shares plummet nearly 7% explained by professional Forex trading experts the “Gain Capital shares plummet nearly 7%” FX trading team.
Gain Capital shares plummet nearly 7%
The saga of the Gain Capital (NYSE:GCAP) vs. FXCM (NYSE:FXCM) takeover battle culminated late last week with Gain Capital (Forex.com) announcing they were rejecting FXCM’s bid, and instead were themselves buying rival GFT. And of course with FXCM then withdrawing its offer to buy Gain.
The result? Not unexpectedly, Gain Capital shares took a pounding. As per the chart below, Gain shares were down 6.6% on Friday after FXCM withdrew its offer.
It would seem that shareholders would have liked to have seen Gain sold to FXCM at a premium. Still, Gain Capitals share price of $5.08 is still well above the $4.27 price set on April 8, when FXCM first announced its hostile bid to take over the company.
For more on Forex industry M&A and financing, including M&A valuation comps and a deal list dating back to 2005, see the LeapRate-Dow Jones Forex Industry Report.
Gain Capital shares plummet nearly 7% Conclusion
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