Gain Capital Holdings Inc. (NYSE: GCAP), which provides online trading services, has received a proposal from FXCM Inc. (NYSE: FXCM) to acquire the company in an all-stock transaction valued at $210.4 million.

The proposal would allow FXCM to acquire Gain for 0.399 share of FXCM Class A common stock for each share of Gain common stock. That agreement values Gain’s stock at $5.35 per share. Gain’s shares closed at $4.27 before the announcement, and were trading up to about $5.50 mid-day after the proposal was received.

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