UBS reportedly agreed on 17 May to purchase ABN Amro's
futures and commodities trading business, a deal that creates
the largest futures commission merchant (FCM) in the US and
perhaps the world.
The Swiss bank was believed to have outbid Man Group for the
futures trading division, with the valuation agreed at
somewhere in the $300m-400m range. This price was significantly
below the $600m mentioned in earlier press reports but in line
with FO Week's prior information (see FO Week Vol 11
No 18). Calls into UBS and ABN Amro had not been returned by
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