CORRECTED - CORRECTED-UK forex broker ODL to be acquired by US peer

Wed May 5, 2010 10:49am EDT

(Removes company description in last paragraph as it referred to a different company)

* Says agreed to be bought by FXCM Holdings

* Financial terms of deal not disclosed

May 5 (Reuters) - British foreign exchange broker ODL Group Ltd said on Wednesday it agreed to be acquired by U.S. peer FXCM Holdings LLC to expand their operations globally.

The financial details of the deal were not disclosed.

ODL, which would continue to trade under its current name following the acquisition, said the companies will together have total client assets of more than $800 million.

"ODL's strong UK and European businesses will provide an excellent complement to FXCM's sizeable operations in both the United States and Asia," the company said in a statement.

The deal is still pending final due diligence review and regulatory approval, ODL said. (Reporting by Tresa Sherin Morera in Bangalore; Editing by Maju Samuel) ((tresa.sherin@thomsonreuters.com; +44 207 542 7717; Reuters Messaging: tresa.sherin@thomsonreuters.com))

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