Andover Takeover

Discussion in 'Prop Firms' started by calibertrader, Dec 19, 2002.

  1. I was curious as to why the announcement (whenever it I guess) was not on the newswires.

    Someone who trades for Andover....were you guys told after the close or what?

    I am aware that sungard is a 7 billion dollar company and the acquisition was not a large one but I thought that regulation FD mandated that something like this be put out over the wires for everyone to see.

    When Caliber posted that, I checked the wires and came up with nothing.

    No big deal or anything, I just figured they would have atleast put a press release on their webpage or something but they didn't.

    Wonder what Andover got? Anyone want to start a new rumor. J/K


    The consolidation continues.....
    #51     Jan 3, 2003
  2. mama


    I guess this will help Andover (or this new entity) to increase the market share of trading business.

    Asset vs stock purchase also implies that Sungard will start interviewing Andover's management since Andover managers will be reporting to Sungard's (possibility of layoffs as well).

    It is going to be very interesting to see how Brut (ECN that Sungard acquired in Summer 2002) and Andover will be integrated. It seems that there is an overlap in terms of technology and clients that they (Andover and Brut) are after.

    Brut still operates independently and needs to meet certain targets in order to get additional stock/cash from Sungard. It remains to be seen if Andover got similar deal?

    Any thoughts on how this acquisition will affect other daytrading surviving firms? It seems that the weak firms will be forced to exit the business or dispose of their assets at fire sale prices.
    #52     Jan 3, 2003
  3. -all is well. no major changes for traders. hammer really is the best and will only get better now.
    - anyone considering coming to andover but holding off cause of rumors should contact me.
    #53     Jan 3, 2003
  4. I have no complaints about this merger.

    #54     Jan 7, 2003
  5. stockman

    You've got to get that little guy housebroken

    #55     Jan 7, 2003
  6. GHansen


    Hmmmmm. Now where have I heard bold predictions like this before? From Don Bright after Goldman bought SLK perhaps?????

    Still waiting for the fireworks......
    #56     Jan 7, 2003
  7. hammer already has the fireworks. have you tried it?
    #57     Jan 8, 2003
  8. So, what's the final outcome of the deal? I understand Andover was going to explain the merger today to all their traders. Give us the scoop.
    #58     Jan 9, 2003
  9. Most of the Andover and Lynx traders I know have heard nothing about the merger and never knew there was one in the works. They are totally in the dark.
    #59     Jan 11, 2003

  10. Some guys knew...............but think about it.

    Can you talk about something that is being done by a S&P 500 company before it hits the wires without being liable?

    JWkirkland already stated on the board no changes according to Picozzi

    #60     Jan 11, 2003