Cantor Fitzgerald, Gain Capital (Forex.com), and City Index have made “preliminary approaches” to LCG.
Well, looks like we were right. After we reported this morning that the recent rise in London Capital Group’s share price is likely attributable to M&A activity surrounding the company, London Capital Group itself confirmed in a press release just moments ago that it has indeed received “preliminary approaches” from several potential acquirers interested in buying the company.
Those companies which have shown interest in LCG include two US-based firms — Cantor Fitzgerald and Gain Capital (Forex.com) — and one of LCG’s UK competitors in the financial spreadbetting business, City Index.
LCG’s shares reacted very quickly to the press release, shooting up instantly about 19% to £0.51 per share, up from £0.43 before the announcement, and up 37% from last Friday’s close. (They bounced back down to £0.46 as of the time of writing).
Stay tuned to LeapRate for more on the situation…
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