International Assets, FCStone merger approved, set to close Wednesday

By Lisa Kerner

Charlotte, N.C., Sept. 25 - Shareholders of International Assets Holding Corp. and FCStone Group, Inc. approved a merger of the two companies at separate special meetings on Friday.

The merger is expected to close on Wednesday, according to a joint news release from the companies.

FCStone shares will cease trading on the Nasdaq Global Select Market while International Assets shares will continue to trade on Nasdaq under the symbol "IAAC."

In July, International Assets and FCStone announced they will combine in an all-stock deal to create a combined company with a market capitalization of approximately $260 million.

FCStone common shareholders will receive 0.295 of a share of International Assets common stock for each share they own. International Assets expects to issue about 8,239,405 shares to FCStone stockholders in connection with the merger, the filing said.

FCStone is a Kansas City, Mo.-based commodity risk management firm.

Based in Altamonte Springs, Fla., International Assets is a financial services company focused on international securities and the commodities markets.

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