That's the headline. But the interesting part is what happened behind-the-scenes. As would be expected in a situation like this, FXCM CEO Drew Niv and his team held a series of discussions with his Gain Capital counterpart Glenn Stevens over the past few weeks, suggesting the merger between the two firms. But Stevens and his team didn't want to do the deal, and sell out at such a low price -- Gain's shares (as at Monday's close of $4.27) sit at less than half their December 2010 IPO price of $9. FXCM has fared much better, with its share price hovering right around their $14 IPO price (see chart below).
