Group's Acquisition of Datek Clears Path for an Independent Island
FRONT PAGE NEWS
NEW YORK--An investment group led by Bain Capital has agreed to acquire a majority stake in Datek Online Holdings Corp., parent company of Datek Online Brokerage and the Island ECN, for $700 million. The investment group also includes TA Associates and Silver Lake Partners.
The move should help to alleviate Securities and Exchange Commission concerns about Datek's close ties to the Island ECN (Datek's ownership will be reduced to 10 percent), making Island's effort to become the first fully
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