Investment bank Gleacher & Co Inc said it was in talks with a third party regarding a possible merger, less than two months after it suspended its search for a buyer.Gleacher had put itself up for sale in the wake of a prolonged slump in the merger and advisory business, but gave up its search after it was unable to get the right price.The company also said it was exiting the fixed-income business which could affect 160 employees.Gleacher had sold its mortgage lending unit ClearPoint to Ocwen Financial Corp for an undisclosed price in February.
Ocwen Financial Corporation is a financial services holding company. Shares of OCN remained unchanged at $37.17. In the past year, the shares have traded as low as $14.40 and as high as $42.07. On average, 1810860 shares of OCN exchange hands on a given day and today's volume is recorded at 0.
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