Merrill sells units at reduced price

Article Abstract:

Merrill Lynch and Company Inc. has sold two of its life insurance business units to Dutch investment and insurance firm Aegon N.V. for $50 mil less than the initial price of $1.3 bil that the two companies agreed to in August 2007. The sale closed at $1.25 bil, with the difference being attributed to an adjustable mechanism contained in the agreement that allowed for changes in the market that impacted variable annuities.

INSURANCE CARRIERS, United States, Netherlands, Insurance industry, AEGON N.V., Merrill Lynch & Company Inc.

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U.K. brokerage firm is in talks to acquire part of Lazard Unit

Article Abstract:

British brokerage firm Durlacher Corp. is in negotiations to acquire Panmure Gordon and Co. Teather & Greenwood Holdings PLC has been acquired by Landsbanki Holdings (U.K.) PLC. The securities investment sector is seeing a trend to consolidate to better compete in a crowded market.

United Kingdom, Industry Overview, Company Profile, Panmure Gordon and Co.

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