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A Dutch Treat at NYSE? Bought out by a foreign firm was once considered the kiss of death. But for

Traders Magazine, December 2001

Peter Chapman

If the partners at Einhorn & Co., a small Big Board specialist, had any doubts about selling out in the summer of 1999 to the big Dutch trading house Van der Moolen Holding, they soon vanished. In January 2001, Time Warner, one of Einhorn's top money-spinners, was delisted following its merger with America Online. The loss would have been devastating for Einhorn as Time Warner represented about a quarter of its revenues. But as part of Van der Moolen Specialists USA, the fifth largest specialist at the New York Stock Exchange, the traders at Einhorn survived to trade another day.

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