TP Icap agrees terms for acquisition of Liquidnet

Following the announcement made on 29 September 2020, TP ICAP plc (“TP ICAP” or the “Company” and together with its subsidiaries, the “Group”) confirms that it has agreed definitive terms to acquire the entire issued share capital of Liquidnet Holdings, Inc. (“Liquidnet” and, together with its subsidiaries and the Group, the “Enlarged Group”) for a total consideration of between US$575 million and US$700 million, comprising cash consideration of US$525 million (subject to customary adjustments) payable on completion of the Acquisition (“Completion”), non-contingent deferred consideration of US$50 million and contingent consideration of up to US$125 million (the “Acquisition”).
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