LaBranche to consider alternatives, sells Amex operation

By Lisa Kerner

Charlotte, N.C., July 9 - LaBranche & Co Inc. said it began a review of strategic alternatives with the assistance of Freeman & Co Securities LLC and Weil, Gotshal & Manges LLP.

In addition, LaBranche said it agreed to sell its Amex equity specialist operation to Cohen Specialists, LLC in a transaction slated to close on July 9. Terms of the deal were not disclosed.

LaBranche's 2007 second-quarter earnings are expected to reflect impairment charges and unrealized losses related to its investment in NYSE Euronext, Inc. for a net loss.

New York-based LaBranche specializes in exchange-listed securities.

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