MF Global Holdings Ltd was nearing a deal late Sunday night to file for Chapter 11 bankruptcy protection as soon as Monday and sell assets to Interactive Brokers Group , the Wall Street Journal said, citing a person familiar with the matter. As per the tentative plan, MF Global's holding company would file for bankruptcy protection, the person told the Journal.Interactive Brokers would then likely make an initial bid of about $1 billion during a court supervised auction, the person said, though the deal was described as complicated and that number could change.The sale would need to be approved by a bankruptcy judge.None of MF Global's regulated entities would seek bankruptcy protection, the person said.
Interactive Brokers Group, Inc. (IBG, Inc.) is a holding company. Shares of IBKR fell by 0.13% or $-0.02/share to $15.22. In the past year, the shares have traded as low as $13.00 and as high as $19.49. On average, 677303 shares of IBKR exchange hands on a given day and today's volume is recorded at 578904.
MF Global Holdings Ltd. (MF Global) is a holding company. Shares of MF fell by 16.08% or $-0.23/share to $1.20. In the past year, the shares have traded as low as $3.86 and as high as $9.28. On average, 3726380 shares of MF exchange hands on a given day and today's volume is recorded at 84668336.
Source
