Langbar International

I wonder if Elliot have been burnt by the refco fiasco...


NEW YORK (Reuters) - Potential buyers began circling Refco Inc. (NYSE:RFX - news) on Friday after the largest U.S. independent commodities brokerage shut down another major business as it battled for survival.

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Man Group's (EMG.L) brokerage unit, Man Financial, has expressed interest in buying Refco's futures business, according to a source familiar with the matter, who added private equity firms were also eyeing the embattled company.

Man Group is the world's largest publicly traded hedge fund and its brokerage is a major rival to Refco in global futures trading. No one from Man or Refco was available for comment