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Thursday, May 14, 2015 12:00:11 PM
#2 Jefferies and Leucadia want to be the place to go in a liquidity/credit crisis. They want the next imperiled company to come to Jefferies for a rescue package. Onerous terms that left shareholders with zero will not exactly be an attraction for the next rescue candidate.
That said......these were very harsh terms. Leucadia has already announced a massive profit on the deal. Did the management of FXCM look at alternatives? Would they have gotten better terms if they had two competing bidders?
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