Tullett Prebon to Buy Icap Voice Broking, Data Businesses
The deal will create the largest broker and bolster Tullett's market data business.
Officials say the deal will "develop Tullett Prebon's information business through enriching the range and quality of its suite of products, and expanding its delivery channels," to "global significance," from a combined starting revenue of £84 million ($127 million).
Tullett and Icap say they expect the deal to deliver cost synergies of £60 million, roughly 40 percent of which will come from consolidating onto common technology platforms.
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