Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:DTCC Quits Merger Talks with LCH.Clearnet Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 29, 2009

DTCC Quits Merger Talks with LCH.Clearnet

by: Armie Margaret Lee

DTCC is no longer pushing through with its proposed merger with London-based LCH.Clearnet. The two firms had announced last October that they had signed non-binding heads of terms regarding a proposed merger (see The MFWire, 10/22/08).

"DTCC has continually communicated its desire to complete a successful merger to both the management and to the Board of Directors of LCH.Clearnet," DTCC executives said in a news release on Wednesday. "However, LCH.Clearnet has not agreed on a basis for consummating the proposed merger with DTCC and, after consultation with our Board of Directors, regrettably DTCC sees no choice but to pursue other strategic alternatives to develop seamless transatlantic clearing services to support the needs of our customers and the industry."

A 12-member consortium led by Deutsche Bank is working on making an offer for LCH.Clearnet by May 29, according to Reuters.

New York-headquartered DTCC has six subsidiaries, including National Securities Clearing Corporation, whose Fund/Serv is the industry standard for processing mutual fund transactions. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use