>Corzine’s MF Global Board Said to Meet to Consider Options
Jon Corzine’s MF Global Holdings Ltd. (MF) was working through the weekend to consider options for the sale of the futures broker, according to a person with direct knowledge of the situation.
The firm’s board is meeting today in New York after convening yesterday, said the person, who asked not to be identified because the talks are private. MF Global was in discussions with five potential buyers for all or parts of the company, including banks, private-equity firms and brokers, a person with knowledge of the matter said on Oct. 28.
Pressure is mounting on Corzine, the former governor of New Jersey and U.S. senator, after MF Global declined 67 percent last week, its bonds started trading at distressed levels and it drew down on its credit lines. The New York-based firm reported a $191.6 million quarterly loss on Oct. 25 and Moody’s Investors Service and Fitch Ratings cut its credit rankings to junk.
https://www.bloomberg.com/news/2011-10-29/mf-global-s-board-said-to-be-meeting-today-to-discuss-selling-the-company.html
