Rooney, Pace terminated a merger agreement.
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On Sept. 12, Rooney, Pace Group and Sherwood Capital Group reported an agreement to merge. But in reviewing the proposal the firms “concluded that the combination would not offer the shareholders of both companies the advantages each had mutually sought,” they said in a joint statement. Rooney Pace is a publicly held brokerage firm based in New York, and Sherwood Capital is a Jersey City, N.J.-based securities firm that is privately held.
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