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IG Group places big US bet

The trading platform has announced the purchase of Chicago-based tastytrade, for $1bn
IG Group places big US bet
  • Move for online derivatives broker boosts US presence
  • Half-year numbers show spike in profits but flat dividend
IC TIP: Buy at 894p

A strong set of interim results for IG Group (IGG) were trumped by news of the investment platform’s proposed acquisition of fast-growing US online brokerage tastytrade, in a $1bn (£733m) deal funded by $300m in cash and the issue of 61m new shares.

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