Flagging Gleacher Fires Up Sale Talks, Drops More Units

Law360, New York (April 10, 2013, 3:20 PM EDT) -- Gleacher & Co. is in early-stage talks with an unnamed prospective buyer over a potential tie-up, the flagging investment bank confirmed Wednesday, the same day it said it would drop its fixed-income units as part of an ongoing effort to trim costs.

The investment bank did not say whom its potential partner could be, only cautioning that the “preliminary discussions” did not promise a sale. It did not immediately answer a request for additional comment.

Gleacher, once one of New York's top boutique investment firms, has...
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