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    Home /  About /  News And Events /  Client Highlights
    Client Highlights

    S&C Advises Trading Network Liquidnet on Agreed Sale to TP ICAP

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    October 23, 2020

    Liquidnet Holdings Inc., a global electronic trading network, has agreed to be acquired by TP ICAP plc for up to $700 million. The bulk of the consideration, $575 million, will be paid up front, and up to $125 million will be paid in earn-out consideration. The deal was announced October 9 and is expected to close in the first quarter of 2021. 
     
    Founded in 1999, Liquidnet connects buy-side clients to liquidity in the equity and fixed income markets through its electronic trading platform. The company provides its more than 1,000 buy-side clients, who collectively manage $33 trillion in equity and fixed income assets, with access to 45 markets worldwide. 
     
    TP ICAP, a UK publicly traded interdealer broker incorporated in England and Wales, is one of the world's largest wholesale market intermediaries and operates in 26 countries.
     
    The S&C team advising Liquidnet is led by Mark Menting and Ben Perry (London) and includes associates Prateek Andharia and Patrick Lynch. David Spitzer is advising on tax matters; Mehdi Ansari is advising on intellectual property matters; Heather Coleman is advising on executive compensation matters; and Frederick Wertheim is advising on broker-dealer matters.

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    Mark J. Menting Headshot Photo
    Mark J. Menting
    New York
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    Ben Perry Headshot Photo
    Ben Perry
    London
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    David C. Spitzer Headshot Photo
    David C. Spitzer
    New York
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    Mehdi Ansari Headshot Photo
    Mehdi Ansari
    New York
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    Heather L. Coleman Headshot Photo
    Heather L. Coleman
    New York
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    Frederick Wertheim Headshot Photo
    Frederick Wertheim
    New York
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