Stock exchange operator Nasdaq OMX Group Inc. has reached an agreement to buy electronic trading platform eSpeed from parent company BGC Partners Inc. for $750 million in cash plus issuance of stock.
Depending on future sales goals, the acquisition could be worth as much as $1.23 billion. Purchase considerations for eSpeed include as much as $484 million in Nasdaq stock to be spread over 15 years. At current prices, BGC would receive 15 million shares, or about 1 million annually.
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