Nasdaq OMX Pays $750M For Treasury Trading Platform

Law360, Los Angeles (April 1, 2013, 6:47 PM EDT) -- The Nasdaq OMX Group Inc. said Monday it will buy electronic trading platform eSpeed, which deals in U.S. Treasurys, from inter-dealer broker BGC Partners Inc. for $750 million.

Under the deal, Nasdaq OMX will acquire eSpeed for $750 million in cash and issue $484 million in Nasdaq OMX common stock over 15 years, BGC said in a statement.

In a separate statement, Nasdaq OMX said the transaction will be accretive within 12 months and meets its criteria for return on investment.

The company is funding the...
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