eSpeed (ESPD) Holder WC Capital Wants Evaluation of Tullet Bid, Encourages Cantor to Make Bid
In a press release on eSpeed Inc. (Nasdaq: ESPD), 6.4% holder WC Capital called for an independent evaluation of Tullet Prebon's $12 bid for the Company.
Aaron Braun, the manager of WC Capital, said, "We view the Tullet Prebon bid as extremely attractive and deserves to be considered by the independent directors of eSpeed. Should Cantor Fitzgerald L.P. decide to match this or any potential future offer, we would welcome that development."
WC Captial said the $12 bid is at the low end of the $12 to $16 valuation range for eSpeed.
Shares of eSpeed are up about 10% today to $10.58.