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Tullett Prebon/ICAP deal gets clearance from US, Singapore

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Tullett Prebon/ICAP deal gets clearance from US, Singapore

Tullett PrebonPlc said the U.S. merger control condition has been met for closingits acquisition ofICAP Plc's globalhybrid voice broking and information business.

The waiting period under the Hart-Scott-Rodino Act wasterminated early, effective July 15. The company also received unconditionalclearance for the deal from the Competition Commission of Singapore.

The deal is awaiting approvals from the U.K. Competition and MarketsAuthority and other regulatory bodies and the satisfaction of other closingconditions. The deal also requires the approval of ICAP shareholders followingthe change to the transaction's structure.

Tullett Prebon continues to expect the deal to close in 2016.