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Share Name | Share Symbol | Market | Type |
---|---|---|---|
FX Alliance Com USD0.0001 | NYSE:FX | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.01 | 0.00 | 01:00:00 |
Thomson Reuters Corp. (TRI) has extended its tender offer for electronic currencies trading platform FX Alliance Inc. (FX) by three days as just 30.1% of FXall shareholders tendered their shares to the offer.
As of Thursday, about 10.1 million of FXall's shares had been tendered to the offer, Thomson Reuters said.
The offer for all outstanding FXall shares at $22 a piece will now expire on Aug. 17 at 5 p.m. EDT. It was previously set to expire Aug. 14. All other terms of the tender offer remain unchanged.
The two companies also said they have entered into a memorandum of understanding that outlines terms of an agreement in principle to settle action pending in the Delaware Court of Chancery that alleged FXall, Thomson Reuters and other defendants breached their fiduciary duties by failing to properly value FXall. The defendants didn't admit to liability or wrongdoing and entered into the memorandum of understanding to avoid the costs, risks and uncertainties of litigation.
Last month, Thomson Reuters agreed to buy FX Alliance for $616 million, cranking up competition in the electronic currencies dealing space and suggesting the data provider is striving to get a bigger slice of the $4 trillion-a-day global currencies business.
Thomson Reuters shares closed at $29 and were inactive after hours. The stock is up 8.7% since the start of the year.
-Write to Nathalie Tadena at nathalie.tadena@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year FX Alliance Com USD0.0001 Chart |
1 Month FX Alliance Com USD0.0001 Chart |
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