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Subsequent Events | 3 Months Ended
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Mar. 31, 2017
Subsequent Events |
Subsequent Events | 18. Subsequent Events The Company has evaluated subsequent events for adjustment to or disclosure in its condensed consolidated financial statements through the date of the report, and has not identified any recordable or disclosable events, not otherwise reported in these condensed consolidated financial statements or the notes thereto, except for the following: The Company’s Board of Directors declared a dividend of $0.24 per share of Class A common stock and Class B common stock and restricted stock unit on May 4, 2017, payable on June 15, 2017 to holders of record as of the close of business on June 1, 2017. On April 20, 2017, the Company and KCG Holdings, Inc. ("KCG") entered into a definitive agreement (the “KCG Merger Agreement”) whereby the Company will acquire KCG in a cash transaction valued at $20.00 per KCG share, or a total of approximately $1.4 billion (the “KCG Acquisition”). The KCG Acquisition is expected to close during the third quarter 2017 after receipt of all required regulatory approvals and KCG shareholder approval. The Company intends to finance the KCG Acquisition with a combination of debt and equity financing (collectively with the KCG Acquisition and related transactions, the “KCG Transactions”). The Company entered into a debt commitment letter with J.P. Morgan Chase Bank, N.A. for gross new borrowings of 1.65 billion and investment agreements with an affiliate of Temasek and North Island Holdings for the sale of $750 million of Class A common stock. Jefferies LLC, the largest shareholder of KCG, has entered into a voting agreement with the Company pursuant to which it has agreed to vote 24.5% of KCG's voting power in favor of the KCG Acquisition. On November 28, 2016, the Company agreed to acquire select strategic telecommunications assets from Teza Technologies. The transactions was consummated on May 3, 2017 following the receipt of required regulatory approvals.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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