Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

GFI Group Shareholder Sues to Block CME Group Acquisition

Aug. 29 (Bloomberg) -- CME Group Inc.’s $580 million acquisition of GFI Group Inc. undervalues the trading company, a shareholder said in a lawsuit seeking to block the takeover.

CME, owner of the Chicago Mercantile Exchange, agreed in July to buy New York-based GFI to expand into European energy trading. The transaction calls for Chicago-based CME Group to sell GFI’s wholesale brokerage and clearing unit to a group of managers led by Michael Gooch, GFI’s executive chairman, for $165 million plus the assumption of $63 million in liabilities.

The $4.55-a-share price that CME Group is paying for GFI represents a 46 percent premium to the company’s July 29 closing price, the companies said in a July 30 statement. Shareholder Jamie Suprina sued GFI today in New York State Supreme Court today, saying the price undervalues the shares and “is the result of an unfair sales process that was likely driven” by the personal interests of Gooch, other executives and board members, according to the complaint.

Patricia Gutierrez, a spokeswoman for GFI Group, said the company doesn’t comment on pending litigation.

The case is Suprina v. GFI Group Inc., 652668/2014, New York State Supreme Court, New York County (Manhattan).

To contact the reporter on this story: Chris Dolmetsch in New York State Supreme Court in Manhattan at

To contact the editors responsible for this story: Michael Hytha at Joe Schneider

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.