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27 February 20202 minute read

DLA Piper advises INTL FCStone Inc. in US$236 million acquisition of GAIN Capital

DLA Piper is representing INTL FCStone Inc. (NASDAQ: INTL) in its US$236 million acquisition of Gain Capital Holdings, Inc. (NYSE: GCAP), a provider of online trading services. Under the terms of the parties' definitive agreement, INTL FCStone will acquire GAIN Capital in an all-cash deal where the company's stockholders will receive US$6.00 per share. The transaction is expected to close in mid-2020, subject to regulatory approvals, stockholder approval and other customary closing conditions.

GAIN serves more than 130,000 retail and institutional investors through its and City Index platforms, among other channels. As a result of the combination, GAIN’s customers will benefit from a richer product offering and the expanded resources and greater scale of the combined firm. By acquiring GAIN, INTL FCStone, in turn, will add a new digital platform to its global financial network, as well as a complementary futures business.

“With this acquisition, INTL FCStone is ideally positioned to serve a wider range of customers and significantly expand its offering to retail clients,” said Andrew Weil, a DLA Piper partner who led the firm’s deal team. “Our deep understanding of the financial services industry and the needs of our clients operating in the fintech sector, along with our robust M&A capabilities, were key components for our successful representation of INTL FCStone in this transaction.”

In addition to Weil, the DLA Piper team representing INTL FCStone included partners Neal Aizenstein, Erin Kirchner, Richard Ashley, Ryan Vann, Marc Horwitz (all of Chicago), Paolo Morante (New York), Mary Dunbar (Washington, DC) and Claire Hall (Los Angeles); of counsel Deanna Reitman (Houston) and Miriam Petrillo (Chicago); and associates Robert Parisot (Chicago) and Bradley Phipps (Philadelphia) in the US. The team also included Michael McKee, Chris Whittaker and Neil Millar in the UK; Katherine Chew and Joe Bauerschmidt in Singapore; Martin Jamieson and Timothy Lou in Australia; Robert Black and Russel Drew in Canada; James Chang and Qiang Li in China; and Lance Miller and Kaoru Umino in Japan.

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for ten consecutive years, according to Mergermarket.