Simpson Thacher Represents Reuters in Sale of Instinet to Nasdaq
04.29.05
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The firm is representing Reuters Group plc, a 62% shareholder of Instinet Group Inc., the institutional brokerage and trading network, in a three-part deal valued at a total of $1.9 billion. Under the terms of the deal, Instinet's electronic-trading business, INET ECN, will be acquired by The Nasdaq Stock Market, Inc., which will then sell Instinet's other major business, an institutional broker, to Silver Lake Partners. Instinet has also entered into a definitive agreement to sell Lynch, Jones & Ryan, its commission-recapture subsidiary, to The Bank of New York Company for approximately $174 million in cash.
The Simpson Thacher lawyers working on this transaction are Bill Curbow, Andrew Smith, Christopher Lee, Mark Rambler (Corporate) and Charlie Rappaport, Gary Mandel and Audra Lazarus (Tax).