Sunday, April 24, 2005

Reports: Langone, Others Seek to Buy NYSE

Reports: Langone, Others Seek to Buy NYSE: "A group of seat holders on the New York Stock Exchange, led by former NYSE director Kenneth Langone, are attempting to mount an effort to purchase the Big Board and override the exchange's announced merger with all-electronic marketplace Archipelago Holdings Inc., according to published reports Sunday"

This is going to get interesting. NYSE Insiders are saying that the Archipelago/NYSE merger presents a conflict of interest for Goldman Sachs, which is a 15% shareholder of Archipelago, and owns a number of seats on the Exchange. Plus Langone is one of the defendants in Spitzer's suit against Grasso regarding compesation, and has proven himself to be a fierce and feisty businessman and litigant.
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