MF Global in talks with Interactive Brokers

MF Global spent the weekend desperately trying to sell itself as the broker moved to secure a deal before the US open, and talks were continuing late on Sunday in New York. After a hectic weekend of board meetings and courting potential buyers, the talks have apparently narrowed to one bidder, Interactive Brokers. The FT says MF Global is close to a sale of the bulk of its assets to electronic broker and marketmaker Interactive Brokers Group, citing people familiar with the situation. NYT DealBook also says that the bidding process, which had been reported to have interested possible bidders including Goldman Sachs, State Street and J C Flowers, has now narrowed to Interactive Brokers. However all reports cautioned that a deal was by no means certain.  MF Global has also hired several firms to advise on a partial or complete sale, and/or bankruptcy or other forms of restructuring, the WSJ reported earlier. FT Alphaville rounds up the weekend reports.