Digital News Report – It was announced today that LaBranche & Co. has agreed to sell its business that aids in trading on the New York Stock Exchange. The company will sell the service company, which dates back to 1901, to Barclays Plc for $25 million.
LaBranche was up 1.5 percent today while Barclays was down one percent to $313.70. Barclays agreed to buy all of LaBranche’s debt totaling $189.3 million while LaBranche quadrupled its authorized share buyback to $100 million, roughly 68 percent of its market value.
By: Tina Brown
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