Shareholders of Maxcor, the Nasdaq-listed moneybroker, last night approved a $109m (€86.1m) cash takeover by BGC Partners, a division of US broker Cantor Fitzgerald.

Over 70% of Maxcor stockholders approved the proposed merger which will see the company taken private and folded into BGC. BGC will pay Maxcor shareholders $14.00 per share in cash.