MF Global Holdings filed for Chapter 11 bankruptcy protection in New York on Monday morning, after an effort to sell itself to Interactive Brokers Group failed.
MF Global had a tentative deal to sell assets to Interactive Brokers as of late Sunday, but the agreement fell apart as talks continued overnight, said people familiar with the matter. Discussions ended around 5 a.m. ET, one of these people said.
MF Global had been considering filing just its holding company for bankruptcy protection and then executing the sale. That plan is now off the table, one of the people said.
Article - http://www.cnbc.com//id/45103504
