UBS AG will acquire ABN AMRO's U.S. prime brokerage unit for $250...

UBS AG will acquire ABN AMRO's U.S. prime brokerage unit for $250 million, both companies announced today. The unit, which focuses on smaller U.S. hedge funds, will remain in New York and will form part of the equity business of UBS Investment Bank, said Kris Kagel, UBS spokesman. The deal is expected to close in the fourth quarter, pending regulatory approval, he said.