MF Global is considering ditching a plan to offload its futures trading operation in favor of striking a deal for the entire company, The NY Post has learned. The development was first reported yesterday on nypost.com.
The beleaguered broker-dealer, run by CEO Jon Corzine, is aiming to find a suitor for the firm by Sunday, sources said. That said, MF Global is working on a number of other possible strategies to right the battered firm’s ship, the sources added.
A spokeswoman for MF Global declined comment.
The New York-based broker dealer, which has seen its stock crushed over the past week due to revelations about $6.3 billion in exposures to European sovereign debt, has been looked over by a number of firms for a possible deal, according to sources.
Goldman, State Street, and Australia-based Macquarie bank are among the firms that have eyed MF, according to a report in the Wall Street Journal. People familiar with the bank’s plans tell The Post that MF has narrowed possible suitors down to four or five serious prospects and is pressing to strike a deal in the next 48 hours -- at the latest…
Read more: http://www.nypost.com/p/news/business/mf_sale_could_be_sunday_ZoCqUnBTr97qExtMmGwLxO#ixzz1cCHeGiiA
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