BGC Group Inc. to Repurchase Over 16.4 Million Shares from Howard W. Lutnick as Part of Divestiture Plan

Reuters

2025/05/19

BGC Group Inc. to Repurchase Over 16.4 Million Shares from Howard W. Lutnick as Part of Divestiture Plan

BGC Group Inc. has announced the repurchase of over 16.4 million shares of its Class A common stock from Howard W. Lutnick, the United States Secretary of Commerce and the company's former Chairman and CEO. The shares were repurchased at $9.2082 per share, totaling approximately $151.5 million. This move is part of Mr. Lutnick's divestment from BGC to comply with U.S. government ethics rules. Additionally, Mr. Lutnick will transfer his ownership interest in Cantor Fitzgerald to trusts for the benefit of his children, with Brandon G. Lutnick as the controlling trustee. The transactions related to Cantor Fitzgerald are expected to close in the third quarter of 2025 following regulatory approvals.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BGC Group Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250519432705) on May 19, 2025, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BGC Group Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250519432705) on May 19, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BGC","symbol_name":"BGC GROUP","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250519:nNDL7hL64B:1","article_id":"2536009684","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2536009684","pubTimestamp":1747659704,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BGC Group Inc. has announced the repurchase of over 16.4 million shares of its Class A common stock from Howard W. 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