Statement re transaction with ICAP

RNS Number : 0113F

Tullett Prebon PLC

22 July 2016

 

FOR IMMEDIATE RELEASE                                     

22 July 2016

Tullett Prebon plc

Update on the proposed acquisition of ICAP's global hybrid voice broking and information business

Further to the announcement regarding the proposed acquisition by Tullett Prebon of ICAP's global hybrid voice broking and information business released on 11 November 2015 (the "Announcement"), Tullett Prebon announces that, effective 15 July 2016 early termination has been granted of the waiting period under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976 in respect of the Transaction.  The grant of early termination means that the US merger control condition to Completion of the Transaction has been satisfied.

Tullett Prebon also notes the announcement of 18 July 2016 by the Competition Commission of Singapore that the Transaction has been cleared unconditionally.

Completion of the Transaction remains subject to clearance from the Competition and Markets Authority, approval by various regulatory bodies including the FCA and satisfaction of other customary closing conditions noted in the Announcement.  Completion of the Transaction is also subject to the further approval of ICAP shareholders following the change to the structure of the Transaction as set out in the announcement released by Tullett Prebon on 21 June 2016.

Tullett Prebon remains confident that the Transaction is on track to close in 2016.

Terms defined in this announcement, unless otherwise defined, have the same meanings as set out in the Announcement.

Enquiries

Alexandra Wick
Marketing & Communications, Tullett Prebon plc
Direct: [phone]
Email: [e-mail]
Kim Fletcher/Craig Breheny
Brunswick Group LLP
Switchboard: [phone]
Email: [e-mail]

 

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