Aggressive FXCM as a potential buyer for Alpari UK (updated)


FXCM LogoAtoZ Forex team has just received an email from a our UK representative that the troubled US based broker FXCM is not only out of its rock bottom $225 million trouble but it is a potential buyer for Alpari UK which announced insolvency on Friday after the Swiss Crisis.

This move from FXCM CEO Drew Niv can also be seen as an attempt to boost the FXCM shares which slammed on Friday to as low as 98 cent per share ending up halted stock trading.

During late afternoon, just before the New York trading session was finalized FXCM announced that they came into an agreement with Leucadia National Corp., the owner of the New York-based investment bank Jefferies Group. As a part of the deal Leucadia National Corp. will give $300 million  senior secured term loan with an initial coupon of 10%.

UPDATE:

After the rumors took the market, we approached to an FXCM representative asking if the news/ rumors were indeed true. The answer was: “FXCM is definitely not buying Alpari.”

While Alpari UK representative informed us that the rumors of FXCM taking over Alpari is just rumors.

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