Tradeweb Markets Enters Definitive Agreement To Acquire Institutional Cash Distributors, LLC, For $785M, Subject To Customary Adjustments
Author: Benzinga Newsdesk | April 08, 2024 06:37am
Upon closing of the transaction, ICD's CEO Tory Hazard will report to Tradeweb President Thomas Pluta and will join Tradeweb's Operating Committee. The acquisition is expected to be accretive to Tradeweb's adjusted earnings per share in the first 12 months following closing and meet Tradeweb's return on invested capital objectives. Completion of the transaction is expected in the second half of 2024, subject to customary closing conditions and regulatory review.
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