A confidentiality agreement has been signed. The prelude to something more? We should know by November 4th.

Via Sharecast.com:

Man Group in Refco talks

November 1, 2005
Sharecast

Man Group’s brokerage arm admitted today that it has agreed a confidentiality agreement, allowing it access to Refco's financial data. The agreement marks a key step for the Man Financial in agreeing a deal to buy all or parts of the bankrupt company.

Man said it was entering a non disclosure agreement with Refco, which plunged into bankruptcy last month amid a financial scandal after charges were levelled against its former CEO Phillip Bennett.

The fund manager is the latest suitor to access Refco's financial data, which it will use to consider submitting a formal bid, following Interactive Brokers Group last week while TradeLink is also thought to be interested.

Others also thought to be mulling a potential offer are a group consisting of Merrill Lynch, private equity firm Warburg and Susquehanna.

Bids for Refco are due on November 4.

The original article appears here.

-- MDT

Labels: Phillip Bennett, Refco