Financial Services Industry
Industry: Email Alert RSS FeedIcap bid for trading firm under scrutiny.
Financial News, August, 2002
The Securities and Exchange Commission has been asked to investigate an attempt by Icap, the London-based interdealer broking firm, to acquire control of Blackbird, an electronic swaps trading concern.The request has been made by the House financial services committee in Washington, and comes soon after the Department of Justice was asked to conduct a separate investigation into Icap's relationship with Blackbird, in which it is a shareholder.
The dispute between Icap and Blackbird centres on board representation for shareholders. A court has already ruled that a shareholder meeting to address that issue must be held on September 10.
In a reflection of the increased bitterness of the dispute, Blackbird is seeking to portray its fight with Icap in the...
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