Int'l Assets gets U.S. antitrust OK for FCStone
WASHINGTON |
WASHINGTON Aug 12 (Reuters) - Securities firm International Assets Holding Corp IAAC.O has received U.S. antitrust approval to acquire commodity risk management firm FCStone Group Inc FCSX.O, U.S. officials said on Wednesday.
Antitrust authorities completed their review of the all-stock deal valued at about $130 million without taking any action to block it, the U.S. Federal Trade Commission said in a notice.
In July, International Assets announced it would buy a majority stake in FCStone, which arranges and clears energy and commodity trades. The deal would create a financial services firm with an asset base of about $2.3 billion and annual revenues of about $411 million. (Reporting by Julie Vorman, editing by Gerald E. McCormick)
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