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Trading platform IG to buy U.S. brokerage tastytrade for $1 billion

Stock Markets Jan 21, 2021 07:35
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(Reuters) - London-listed trading platform IG Group Holdings PLC (LON:IGG) said it plans to buy online brokerage tastytrade for $1 billion, as it ramps up its presence in the United States after a stellar year for the industry due to coronavirus-driven market volatility.

The deal consideration would be made through $300 million in cash and the issuance of 61 million IG shares, the company said on Thursday.

 

Trading platform IG to buy U.S. brokerage tastytrade for $1 billion
 

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Comments (1)
Chris Gibson
Chris Gibson Jan 21, 2021 10:24
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because of coronavirus-driven volatility? dude, remember why the retail traders grew...they had little else to do during lockdowns with stimulus checks (aside from paying off debt). The UPSIDE volatility kept retail traders going. Retail didn't short on the way down in Feb/March 2020.
 
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