Tradeweb hits over 6-month high on about $2 billion Trumid deal
TW•Tradeweb shares rose as much as 3.6% to $118.81, their highest level since April 17, after the company agreed to buy Trumid for about $1.97 billion. The deal is expected to close in the first half of 2027 and add to adjusted EPS in the first full year after closing.
1. Trumid acquisition
Tradeweb Markets shares advanced for a fifth straight session on Tuesday after the company said it would buy bond-trading platform Trumid for about $1.97 billion. The shares rose as much as 3.6% to $118.81, their highest level since April 17, and were last up 3.1% at $118.26.
2. Deal rationale and timing
The deal is expected to close in the first half of 2027 and aims to expand Tradeweb’s presence in U.S. corporate bond markets. Tradeweb expects the acquisition to add to adjusted EPS in the first full year after closing. Trumid operates an electronic platform for U.S. dollar-denominated corporate bonds, including investment-grade, high-yield, distressed-debt and emerging-market bonds.
3. Analyst view
TD Cowen said Trumid creates a more robust competitor to the pending ICE and MarketAxess platform, and could expand Tradeweb’s client base among dealers and hedge funds and quants while providing cross-selling opportunities. Tradeweb shares had risen about 10% year to date, compared with a nearly 14% gain for the Nasdaq.
