Tradeweb Markets Enters Definitive Agreement To Acquire Institutional Cash Distributors, LLC, For $785M, Subject To Customary Adjustments
Portfolio Pulse from Benzinga Newsdesk
Tradeweb Markets has agreed to acquire Institutional Cash Distributors, LLC, for $785 million, subject to adjustments. The acquisition, expected to close in the second half of 2024, is anticipated to be accretive to Tradeweb's adjusted EPS in the first 12 months post-closing and align with its ROIC objectives. ICD's CEO Tory Hazard will report to Tradeweb President Thomas Pluta and join the Operating Committee.
April 08, 2024 | 10:37 am
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POSITIVE IMPACT
Tradeweb Markets' acquisition of Institutional Cash Distributors for $785M is expected to be accretive to its adjusted EPS in the first 12 months post-closing and align with its ROIC objectives.
The acquisition is significant for Tradeweb as it is expected to be accretive to its adjusted earnings per share, indicating a positive financial impact. Additionally, meeting the company's return on invested capital objectives suggests a strategic fit and potential for value creation, making this news highly relevant and important for investors in Tradeweb. The high confidence level stems from the clear financial benefits and strategic alignment outlined in the announcement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100