* ConvergEx dropping talks due to probes by U.S. regulators
* Probes involve trade execution practices through co's
Dec 23 ConvergEx Group, a software
provider for brokerage and investment technology firms, said it
terminated its merger agreement with private equity firm CVC
Capital, partly because of probes by U.S. regulators.
CVC Capital was looking to buy ConvergEx, which is partly
owned by Bank of New York Mellon, for $1.9 billion,
Bloomberg had reported in July.
In May, ConvergEx filed to raise up to $400 million in an
initial public offering.
The parallel investigations by the U.S. Securities and
Exchange Commission and the Department of Justice primarily
involve some non-electronic trade execution practices conducted
through its Bermuda unit, ConvergEx said in a statement.
The unit, ConvergEx Global Markets, is projected to generate
about 7 percent of the company's total revenues in 2011.