June 20, 2007 / 1:13 PM / 12 years ago

Merrill seizes $800 million Bear hedge fund assets

NEW YORK, June 20 (Reuters) - Merrill Lynch & Co. Inc. MER.N has seized $800 million of assets from troubled hedge funds managed by Bear Stearns Cos. Inc. BSC.N, sources familiar with the situation said on Wednesday, throwing in doubt the chances of the funds being restructured.

The assets are expected to be sold off later today, and are mainly collateralized debt obligations supported by asset-backed securities, according to dealers that had seen the list of securities up for sale.

Merrill Lynch declined to comment. Bear Stearns was not immediately available for comment.

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