(Source: PrimeNewswire)
TOKYO and PLANTATION, Fla., June 10, 2011 (GLOBE NEWSWIRE) -- Monex Group, Inc. (Tokyo Stock Exchange: 8698) ("Monex") and TradeStation Group, Inc. (Nasdaq:TRAD) ("TradeStation") today announced the successful completion of Monex's acquisition of TradeStation for approximately $402 million through a cash tender offer followed by a short-form merger of Monex's wholly-owned subsidiary in the United States, Felix 2011 Acquisition Sub, Inc., with and into TradeStation. As a result of the acquisition, TradeStation became a wholly-owned subsidiary of Monex.
At the effective time of the merger, shares of TradeStation common stock held by the remaining TradeStation shareholders who did not tender their shares in the tender offer (other than those who properly exercise appraisal rights) were cancelled and converted into the right to receive the same $9.75 per share price, without interest and subject to any required withholding taxes, that was paid in the tender offer. As a result of the merger, TradeStation shares will be delisted and cease to trade on the NASDAQ Global Select Market. TradeStation shareholders who did not tender their shares in the tender offer will receive relevant information in the mail on how to receive payment for their shares in connection with the merger.
About Monex Group Inc.
Monex Group Inc. (Tokyo Stock Exchange 1st section: 8698), including its main subsidiary Monex Inc. (Tokyo, Oki Matsumoto, Chairman and CEO), an online securities brokerage, provides advanced and unique financial services to individual investors. Monex Group has been a pioneer among Japanese online securities brokers since the complete liberalization of commissions and fees in stock brokerages in 1999. Monex relentlessly strives to offer its customers in Japan innovative products and services and has established its reputation as a unique independent financial institution group. Its services cover M&A advisory, debt & equity underwriting, asset management focusing on alternative investments, investment education, and other investment banking functions along with an online distribution network to more than 1.2 million individual investors in Japan.
Monex Group aims to globalize its customer base and businesses in addition to enhancing its global product line and services. Specifically, in recent years, Monex has embarked on an ambitious plan to strengthen its products and services globally by focusing its expansion efforts to date on the growing Chinese market, by opening representative offices in Beijing and acquiring BOOM Securities (HK) Limited and its group companies in Hong Kong.