Gain Capital set for its best day ever on $236 mln buyout offer
27/02/2020 16:26
** Online trading services provider's shares GCAP.N jump
66% to hit a 5-month high of $5.86 on $236 mln buyout offer
** Stock second biggest pct gainer across U.S. exchanges, on
track for its best day ever, if current gains hold
** GCAP to be bought by financial services company INTL
FCStone Inc INTL.O for $6/shr in cash, which represents a
premium of 71% to GCAP's last close urn:newsml:reuters.com:*:nPn3tKccma
** "We expect the cost and capital synergies of this merger
will enable us to realize positive returns from the transaction"
- CEO Sean O'Connor urn:newsml:reuters.com:*:nGNXyjwwJ
** Deal is expected to be completed in mid-2020
** INTL shares down 1.5% at $44.6
** GCAP fell 36% in 2019
(Reporting by C Nivedita in Bengaluru)
((C.Nivedita@thomsonreuters.com))