BGC Group to acquire OTC Global Holdings in an all-cash transaction

BGC Group (BGC) announced that it has entered into an agreement to acquire OTC Global Holdings, the largest independent institutional energy and commodities brokerage firm. Through this acquisition, BGC Group will further expand and diversify its global Energy, Commodities, and Shipping business. Under the terms of the agreement, BGC expects to acquire OTC in a substantially all-cash transaction, which is subject to customary closing conditions, including applicable regulatory approvals.