TGB Seeks Capital After Assetronics Deal Collapses
THIS WEEK'S LEAD STORIES
The purported acquisition of interdealer bond broker TGB Corp. by Assetronics is off, according to Henry Wattson, head of TGB. The deal was to have given Assetronics a 20% interest in the brokerage innovator. TGB's regulatory capital has dipped below requisite levels, resulting in a suspension of trading.
Reported in the trade press as a fait accompli, the acquisition failed because Assetronics and its founder Jerry Kaplan reneged on their buyout intentions, according to Wattson. Commenting on
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