After a process that apparently started three years ago, Icap has finally pulled off what might turn out to be the deal of the century with the purchase of EBS for a cash consideration of $775 million.
Barring any regulatory hiccups, Icap will finally get its hand on what is still the FX spot market’s predominant broker. Several market sources believe Icap has got a bargain, a fact underlined by an immediate 12% rise in Icap’s share price following the announcement.
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