CME bolsters GFI bid offer

US FUTURES market firm CME Group yesterday increased its previously agreed bid for New York-based derivatives broker GFI Group to match compatriot inter-dealer broker BGC Partner’s hostile offer.

CME has now raised its cash-and-stock offer to $5.25 per share to match BGC’s all-cash tender offer for the 86.5 per cent of GFI that it does not already own. BGC made the offer in October.

Its bid deadline is currently due to expire next Tuesday.