Courtesy of Benzinga.
MF Global (NYSE: MF), the embattled commodities and derivatives broker led by former Goldman Sachs (NYSE: GS) and U.S. Senator Jon Corzine, is in talks regarding a potential deal with Interactive Brokers (Nasdaq: IBKR), DealBook reported, citing sources with knowledge of the matter.
MF Global, which has been evaluating a possible sale or a corporate restructuring, has also been in talks with Jefferies (NYSE: JEF), but MF is said to be focused on negotiations with Interactive Brokers, DealBook reported.
Shares of MF Global plunged about 70% last week and bond investors ran for the exits as well after the company’s credit rating was downgraded to junk status. MF Global has lost money in four of the past six quarters and last Monday reported a $186 million quarterly loss.
Exposure to European bonds and riskier trading practices have brought the New York-based brokerage firm to the brink.
Evercore Partners (NYSE: EVR) is advising MF Global. Evercore and Corzine reached out to major Wall Street firms last week looking for a buyer, according to DealBook.
Connecticut-based Interactive Brokers executes trades for both retail and institutional clients.
