National Capital Drops Bid to Buy Brokerage
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National Capital Companies Inc., an Irvine financial-services firm, said it has scrapped plans to acquire securities brokerage InterFirst Capital Corp.
The parties were unable to complete the transaction within the time frame they had agreed on, National said. The two sides had announced the transaction Oct. 16.
National and InterFirst’s parent, MHK Investment Corp., are discussing a possible business combination in the future, the Irvine firm said.
National’s stock declined 25 cents to $4 a share Wednesday in over-the-counter trading.
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