Tag: management buyout

LMAX lost another £4.5 million in the first six months of fiscal '13. LMAX's spinoff to management (backed by ex-Betfair Chairman Ed Wray) was certainly not unexpected, as we had blogged about Betfair's likely exit from LMAX just several days prior. But the value at which it was done, at a company valuation of just £3.6 million, with £2.4…