Liquidnet acquisition

TP ICAP Group plc completes the acquisition of Liquidnet Holdings, Inc, creating a global markets infrastructure and data solutions provider.

For 2020, TP ICAP reports acquisition costs of £11 million related mainly to the proposed Liquidnet acquisition.

The vast majority of the votes at the TP ICAP general meeting were in favor of the proposed acquisition of Liquidnet.

TP ICAP announces a rights issue, which is set to raise proceeds of approximately £315 million, to be used to fund the Liquidnet acquisition.

The total consideration for the entire issued share capital of Liquidnet Holdings is between US$575 million and US$700 million.