"Sources said the group had been talking to Saxo Bank about a buyout. Talks collapsed and administrators were appointed late last night."
Saxo bank has an interesting wikipedia page
http://en.wikipedia.org/wiki/Saxo_Bank
excerpt:-
"Internationally, Saxo Bank is known for its success in exploiting opportunities offered by the Internet. In Denmark's financial community Saxo Bank remains highly controversial with its founders' documented history of employment in so-called bucket shops[1][2] in the mid-1990s, and media stories of fictive market rates on the SaxoTrader.[3] Moreover, the two founders are well-known for being outspoken on domestic politics.
In September, 2008, Saxo Bank fired about 310 employees, for purely rational purposes. According to the Danish newspaper Brsen,[4] at the same time a blogger accused the bank of repeated manipulation with its Wikipedia articles.[5] Later the bank admitted the edits.[6] Following a record year in 2008 in terms of income and profit[7], net profit ended at DKK 201 million in 2009 with 80% earned in the second half of the year[8].
In 2010, Danish media featured stories of alleged Saxo Bank misconduct: Saxo Bank is being accused of threatening and illegally detaining an employee[9] and of front running and manipulation of client orders.[10] The company's platform, SaxoTrader, was denounced by the head of Danish Shareholders Association as a casino-style product,[11] while former employees has claimed that nearly all of Saxo Bank's clients lose all their money.[12] Saxo Bank is currently under investigation by Danish police[9] and the Financial Services Authority, Finanstilsynet.[13]On May 16, 2010, Brsen reported that founder Lars Seier Christensen has decided to move to Switzerland."
