Short NITE 31 Good Night, NITE?
NITE loses account of Merrill. This is what caused NITE to bounce, tonight after the close will be talks about NITE, EGRP, AMTD, etc.
NEW YORK (Reuters) - Merrill Lynch and Co. Inc. (NYSE:MER - news), the No. 1 U.S. brokerage, is in talks to buy one of the Nasdaq stock market's top share dealers, Herzog Heine Geduld, people close to the companies said on Monday.
The acquisition would enable Merrill to beef up its Nasdaq market making operations, which currently employ some 40 traders.
Merrill is likely to pay less than $1 billion for Herzog and is expected to announce the deal on Monday afternoon, the Dow Jones News Service reported earlier on Monday.
Contacted by Reuters, Merrill and Herzog officials declined immediate comment.
But people familiar with the situation said Merrill and Heine were in talks, although one person cautioned the companies had not yet reached a definitive agreement.
Herzog Heine, which is based in Jersey City, N.J., ranks among the top 5 Nasdaq market makers, |
