2nd Feb 2016 07:42
LONDON (Alliance News) - Tullett Prebon PLC on Tuesday said it has received a notice for further information from the US Department of Justice in connection with its proposed acquisition of the voice broking and information arm of rival interdealer broker ICAP PLC.
The pair struck a deal in November under which Tullett will acquire ICAP's voice broking and information unit in exchange for ICAP taking a big stake in Tullett.
On Tuesday, Tullett said it understands the request made by the DoJ is focused on the proposed post-completion shareholding and governance arrangements between Tullett Prebon and ICAP.
Tullett said it intends to respond to the request as soon as practicable and said it still expects the deal to complete in 2016.
Separately, ICAP said the details of the request by the DOJ are relatively standard and to be expected in the context of the deal. It said it remains confidence of receiving clearances within the previously announced timeframe for the deal.
By Sam Unsted; [email protected]; @SamUAtAlliance
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Related Shares:
IAP.LTLPR.L