Merrill in for Herzog?
|
|
June 5, 2000: 1:55 p.m. ET
Wall Street Journal reports Merrill will pay slightly less than $1 billion for acquisition
|
NEW YORK (CNNfn) - Merrill Lynch could be back in high-volume Nasdaq trading with the purchase of specialty-trading company Herzog Heine Geduld, The Wall Street Journal reported Monday.
Citing people close to the matter, the Journal said Merrill (MER: Research, Estimates) is likely to pay slightly less than $1 billion, the valuation calculated by comparing similar companies. The deal could be announced as early as Monday afternoon.
A Merrill Lynch spokesman had no comment, while a spokesman for Herzog was not immediately available.
Jersey City, N.J.- based Herzog is a Nasdaq market maker, which creates a market for Nasdaq stocks by offering to buy and sell them. Other market makers include Knight/Trimark and Schwab Capital Markets.
|
|
|
|
|
|