Forex.com Japan promises no changes to trading conditions as a result of GAIN’s acquisition
The Japanese retail FX subsidiary of GAIN Capital says there will be no changes to trading conditions as a result of GAIN’s acquisition by INTL FCStone.
The Japanese business of Forex.com, the retail FX brand of Gain Capital Holdings Inc (NYSE:GCAP), has earlier today published a brief notice regarding GAIN’s acquisition by INTL FCStone.
The deal was announced on February 27, 2020. INTL FCStone is set to acquire GAIN for $6.00 per share. This puts the total equity value at $236 million.
GAIN has entered into an Agreement and Plan of Mergerwith INTL FCStone Inc., a Delaware corporation, and Golf Merger Sub I Inc., a Delaware corporation and wholly owned subsidiary of INTL, pursuant to which, among other things and subject to the satisfaction or waiver of specified conditions, Golf Merger Sub I Inc will merge with and into GAIN. As a result of the merger, Merger Sub will cease to exist, and GAIN will survive as a wholly owned subsidiary of INTL.
Between the date of execution of the Merger Agreement and the Effective Time, GAIN has agreed to conduct its business in the ordinary course consistent with past practice and use its commercially reasonable best efforts to preserve intact its business organizations and relationships with third parties, including governmental authorities with jurisdiction over GAIN’s operations, customers, suppliers, licensors, licensees and other third parties and to keep available the services of its present officers and key employees.
The integration with INTL FC Stone is expected to be completed around mid-2020.
In its announcement, Forex.com Japan said there will be no change in customer account transaction conditions, etc. due to this integration.
Clients who have questions regarding this matter are advised to contact Forex.com Japan’s customer service.