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IG Group to acquire tastytrade in $1bn deal
Electronic trading major IG Group Holdings plc (LON:IGG) today announced the proposed acquisition of tastytrade, Inc., a high growth US online brokerage and trading education platform with a leading position in US listed derivatives. Total consideration of $1.0 billion will be paid to tastytrade’s shareholders, comprising $300 million in cash and the issuance of 61.0 million IG shares, valued at $700 million. The cash requirement is to be funded by £150 million of new debt facilities with the balance from IG’s own cash resources. Following completion of the acquisition, key tastytrade management shareholders, ... (full story)