Acquisition of Elevation LLC

RNS Number : 5666C

Tullett Prebon PLC

02 May 2012

 



2 May 2012

Tullett Prebon plc (the "Company")

Acquisition of Elevation LLC

The Company has reached agreement to acquire Elevation LLC, an equities and equity derivatives interdealer broker based in New York, for a consideration of $13.0m to be settled in cash on completion. The sellers of the business are Patrick Sheehan, Joseph Desena, Sarah T. Harris, Jonathan Tepper, William Cunliffe, Barton Asset Management, LLC, and PEAK6 Investments, L.P.  The acquisition is expected to complete before the end of the first half of the year.

Enquiries:

Nigel Szembel, Head of Communications, Tullett Prebon plc

Direct: [phone]

 

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