Тhe Ontario District Council of the Investment Industry Regulatory Organization of Canada (IIROC) announced its approval of the StoneX’s acquisition of all issued and outstanding securities of GAIN Capital – FOREX.com Canada Ltd.
Gain Capital’s stockholder voted earlier in June to approve the set forth in February merger.
As per the agreement, financial services provider INTL FCStone would acquire Gain for $6.00 per share in all-cash transaction, amounting to approximately $236 million in equity value. NTL FCStone has also agreed to make an offer at closing to repurchase GAIN Capital’s $92 million convertible notes due 2022 as part of the transaction.
Financial services provider INTL FCStone announced later last month the approval of the company’s rebranding to StoneX Group in a majority vote at the its shareholder meeting. The company will trade under the symbol SNEX, effective 6 July.
