We construct a three-parameter deformation of the Hopf algebra \LDIAG. This
is the algebra that appears in an expansion in terms of Feynman-like diagrams
of the {\em product formula} in a simplified version of Quantum Field Theory.
This new algebra is a true Hopf deformation which reduces to \LDIAG for some
parameter values and to the algebra of Matrix Quasi-Symmetric Functions
(\MQS) for others, and thus relates \LDIAG to other Hopf algebras of
contemporary physics. Moreover, there is an onto linear mapping preserving
products from our algebra to the algebra of Euler-Zagier sums