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Jon S Corzine, chairman and chief executive officer, MF Global

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MF Global acquires Washington Research Group from Concept Capital

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MF Global, a commodities broker-dealer, has entered an agreement to acquire Washington Research Group, a Washington DC-based investment research firm that provides institutional equity investors with analysis on the impact of government policy on investment opportunities.

MF Global expects this transaction to be accretive within the next 12 months.

The acquisition is part of the expansion of MF Global’s US equity business. The acquisition provides the foundation for MF Global to expand its core equities research offering in the US, as well as extend this offering to the firm’s global clientele.

"The impact of regulatory reform and government policy on investment decisions has never been greater," says Jon S. Corzine, chairman and chief executive officer, MF Global. "This acquisition presents a compelling opportunity to leverage WRG’s experience and expertise on policy matters across a broad cross section of market segments. Their relationships and insightful analysis, coupled with our global equities platform and research offerings in Europe, Asia and India, will serve as a framework to expand our core equities research offering in the US as we help clients navigate the evolving regulatory environment and capture opportunity inherent in today’s markets."

Founded 35 years ago, WRG is a 17-member policy analyst team that covers a broad range of sectors including healthcare, financial services, defence, national security, international trade, media/telecommunications, agribusiness, biofuels, tobacco and corporate tax.

"We are excited to be joining MF Global at such an important time in the company’s transformation," says Ed Garlich, managing director, WRG. "We believe the integration will be seamless, as our product offering complements the company’s strategy and vision. More importantly, we share a common set of values premised on independence, client focus and commitment to delivering quality market insights."

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