Reuters- U.S. securities regulators are investigating at least nine mergers, including Pfizer Inc's takeover of Wyeth and Merck & Co Inc's acquisition of Schering-Plough Corp, for possible insider-trading violations, the Wall Street Journal reported, citing people familiar with the matter.
The Securities and Exchange Commission is probing whether deal advisers and traders illegally shared confidential information, the paper said, noting that the agency had sent out about three dozen subpoenas to hedge funds and brokerages.
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