FCStone announces merger and further losses

Troubled commodity risk management firm FCStone is to merge with International Assets Holding Corporation, after posting more disappointing results in a year that has seen it hurt by substantial losses on a customer account.

Described by both companies as a merger of equals that will result in a combined market capitalisation of approximately $260 million, the transaction with International Assets is scheduled to close in the fourth calendar quarter of 2009. After the merger, FCStone will

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