eSpeed, BGC Partners merger set to close April 1

By Lisa Kerner

Charlotte, N.C., March 14 - eSpeed, Inc. shareholders voted to approve the company's merger with BGC Partners, Inc. at a special meeting on Friday.

BGC Partners will be merged with and into eSpeed, with eSpeed surviving the merger.

eSpeed said the new company will be renamed BGC Partners, Inc. and will trade on the Nasdaq Global Select Market under the symbol "BGCP."

The merger, first announced in May 2007, is expected to close on or about April 1, according to a company news release.

It was previously reported that eSpeed will issue a total of 133.86 million shares of its common stock and rights to acquire shares of its common stock. eSpeed's shares were valued at $9.75 per share, or a 6.09% premium to the closing price on May 29, 2007.

eSpeed is a New York-based trading technology company.

BGC is an inter-dealer broker that provides integrated voice and electronic execution and other services to banks, brokerage houses and investment banks. The company is based in London.

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