Tradeweb and MarketAxess, two of the leading institutional fixed-income trading platform providers, are two of the three bidders for BondDesk Group LLC. The said bidding deal was set to be valued at USD200 million according to two sources privy to the situation who shared the information with Reuters.
BondDesk claims it is the country's largest retail bond-trading venue.
According to one of the sources, Tradeweb leads the pack of bidders. The third bidder was not identified.
The owner of BondDesk, private equity firm Advent International Corp had engaged the services of Broadhaven Capital Partners LLC to sell the firm. This was again confirmed by the sources, who sought anonymity as they had no authority to discuss the transaction with third parties.
An inquiry by phone was made to Broadhaven was not immediately returned. Identified participants in the bid, namely BondDesk, Advent, MarketAxess and Tradeweb all declined to make any comment on the transaction.
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