(Bloomberg) -- Hyundai Card Co., South Korea's third-largest credit card issuer by assets, hired Barclays Capital, Morgan Stanley, Royal Bank of Scotland Group Plc and UBS AG to sell dollar-denominated bonds overseas, according to an e- mail sent to investors.
The company will meet investors in Hong Kong on April 23, Frankfurt on April 24 and London on April 25, according to the e- mail. The three-year bonds are rated BBB by Standard & Poor's, its second-lowest investment grade rating, the e-mail said. Barclays Capital is an investment unit of Barclays Plc.
Read more at Bloomberg Bonds News
Monday, April 16, 2007
South Korea's Hyundai Card Hires Banks to Sell Three-Year Bonds Overseas
(Bloomberg) -- Hyundai Card Co., South Korea's third-largest credit card issuer by assets, hired Barclays Capital, Morgan Stanley, Royal Bank of Scotland Group Plc and UBS AG to sell dollar-denominated bonds overseas, according to an e- mail sent to investors.
The company will meet investors in Hong Kong on April 23, Frankfurt on April 24 and London on April 25, according to the e- mail. The three-year bonds are rated BBB by Standard & Poor's, its second-lowest investment grade rating, the e-mail said. Barclays Capital is an investment unit of Barclays Plc.
Read more at Bloomberg Bonds News
The company will meet investors in Hong Kong on April 23, Frankfurt on April 24 and London on April 25, according to the e- mail. The three-year bonds are rated BBB by Standard & Poor's, its second-lowest investment grade rating, the e-mail said. Barclays Capital is an investment unit of Barclays Plc.
Read more at Bloomberg Bonds News
U.K. Pound Trades Near Highest Since 1992 Before Consumer Price Report
(Bloomberg) -- The pound traded near a 15-year high against the dollar before a U.K. report expected to show inflation was at the second-fastest rate in a decade last month.
The U.K. currency yesterday rallied to its strongest since September 1992 as reports showed housing costs rose and factory- gate prices increased the most in 11 months. The prospect of further interest-rate increases by the Bank of England prompted investors to buy U.K. assets using funds borrowed in lower- yielding currencies such as the yen and Swiss franc.
Read more at Bloomberg Currencies News
The U.K. currency yesterday rallied to its strongest since September 1992 as reports showed housing costs rose and factory- gate prices increased the most in 11 months. The prospect of further interest-rate increases by the Bank of England prompted investors to buy U.K. assets using funds borrowed in lower- yielding currencies such as the yen and Swiss franc.
Read more at Bloomberg Currencies News
Fidelity's High-Yield Asia Fund Focuses on Bonds, Aims for $500 Million
(Bloomberg) -- Fidelity International Ltd., which manages $580 billion, launched its first fund to invest primarily in the high-yield debt of Asian emerging markets.
Andrew Wells, a Fidelity fund manager based in Hong Kong, said the Asian High Yield Fund aims to raise $500 million ``in a short space of time'' from investors in the region. The minimum individual investment is $2,500.
Read more at Bloomberg Bonds News
Andrew Wells, a Fidelity fund manager based in Hong Kong, said the Asian High Yield Fund aims to raise $500 million ``in a short space of time'' from investors in the region. The minimum individual investment is $2,500.
Read more at Bloomberg Bonds News
Oil moves up on pipeline leak, US inventory worry
(Reuters) - Oil edged up on Tuesday as a leak on a Canadian pipeline that pumps crude to the United States helped recoup deeper losses caused by news that a big Nigerian field was about to resume pumping after a year-long halt.
London Brent crude futures on the ICE exchange rose 32 cents to $67.57 a barrel by 0355 GMT, after falling $1.38 on Monday. Traders say Brent now better reflects the global market than landlocked benchmark U.S. crude, which traded up 1 cent at $63.62 a barrel after ceding only 2 cents on Monday.
Read more at Reuters Africa
London Brent crude futures on the ICE exchange rose 32 cents to $67.57 a barrel by 0355 GMT, after falling $1.38 on Monday. Traders say Brent now better reflects the global market than landlocked benchmark U.S. crude, which traded up 1 cent at $63.62 a barrel after ceding only 2 cents on Monday.
Read more at Reuters Africa
HSBC Says It Advised on $30 Billion of Middle East Projects During 2006
(Bloomberg) -- HSBC Holdings Plc, Europe's biggest bank by market value, said it won advisory mandates for Middle East projects worth over $30 billion in 2006, as the region became the world's largest market for project finance.
Water, power and petrochemical projects in Saudi Arabia, Oman and the United Arab Emirates led regional demand for long- term funding, the London-based lender said in an e-mailed statement today.
Read more at Bloomberg Bonds News
Water, power and petrochemical projects in Saudi Arabia, Oman and the United Arab Emirates led regional demand for long- term funding, the London-based lender said in an e-mailed statement today.
Read more at Bloomberg Bonds News
Copper Little Changed After Erasing Gains in Shanghai; Zinc, Aluminum Rise
(Bloomberg) -- Copper prices in Shanghai, which earlier rose near a seven-month high on concern that supplies may lag behind demand, were little changed ahead of talks today that may avert a workers' protest at the world's second-largest mine.
Copper stockpiles monitored by London, New York and Shanghai exchanges are near the lowest since Jan. 30. Prices of copper on the benchmark London Metal Exchange have rebounded 47 percent since early February to just below $8,000 a metric ton, referred to as a resistance level, where sell orders cluster.
Read more at Bloomberg Commodities News
Copper stockpiles monitored by London, New York and Shanghai exchanges are near the lowest since Jan. 30. Prices of copper on the benchmark London Metal Exchange have rebounded 47 percent since early February to just below $8,000 a metric ton, referred to as a resistance level, where sell orders cluster.
Read more at Bloomberg Commodities News
TREASURIES-Little changed in Asia before March CPI
(Reuters) - Investors are bracing for the Federal Reserve to trim overnight rates from the current 5.25 percent later this year, although Fed officials say price pressures are the biggest threat and key data like the monthly payrolls report have been upbeat.
"A lot of accounts were excited about the possibility of a Fed ease, but the latest data shows that's not going to be the case," said a trader at a European investment bank in Tokyo.
Read more at Reuters.com Bonds News
"A lot of accounts were excited about the possibility of a Fed ease, but the latest data shows that's not going to be the case," said a trader at a European investment bank in Tokyo.
Read more at Reuters.com Bonds News
Gold Falls on Speculation Six-Week Rally Is Overdone; Silver Declines
(Bloomberg) -- Gold in New York fell on speculation that a six-week rally to the highest prices in almost a year has made the metal too expensive. Silver also fell.
Before today, gold had climbed 7.1 percent in six consecutive weekly gains. The metal earlier reached $693.30, the highest price since May 18, 2006. The seven-day relative strength index reached 71 today, a signal to traders that prices are poised to fall.
Read more at Bloomberg Commodities News
Before today, gold had climbed 7.1 percent in six consecutive weekly gains. The metal earlier reached $693.30, the highest price since May 18, 2006. The seven-day relative strength index reached 71 today, a signal to traders that prices are poised to fall.
Read more at Bloomberg Commodities News
UPDATE 2-Anadarko sells Texas assets for $750 mln
(Reuters) - The sale of the properties in Austin Chalk in central and east Texas is part of Anadarko's continuing divestment program to pay down $22.5 billion of debt incurred to finance the acquisitions of Kerr-McGee and Western Gas Resources in 2006.
EV Energy, a publicly traded exploration and production master limited partnership, paid $100 million for the assets, Houston-based Anadarko said.
Read more at Reuters.com Bonds News
EV Energy, a publicly traded exploration and production master limited partnership, paid $100 million for the assets, Houston-based Anadarko said.
Read more at Reuters.com Bonds News
Agricore stock gains despite BMO ratings cut
(Reuters) - The offer was worth an aggregate of C$1.191 billion , based on Saskpool's share price on Monday on the Toronto Stock Exchange.
Agricore shares rose 14 Canadian cents to C$19.67, while Saskpool shares were up 16 Canadian cents at C$8.70.
Read more at Reuters.com Mergers News
Agricore shares rose 14 Canadian cents to C$19.67, while Saskpool shares were up 16 Canadian cents at C$8.70.
Read more at Reuters.com Mergers News
US STOCKS-Indexes rally, recover from February sell-off
(Reuters) - NEW YORK, April 16 - U.S. stocks rose on Monday, helping major indexes seal their recovery from a late February sell-off, as Citigroup Inc.'s strong results and a $25 billion buyout of student loan company Sallie Mae boosted sentiment.
Data showing a slightly stronger-than-expected rise in March retail sales helped push the Standard & Poor's 500 index to 6-1/2-year highs. For details, see [ID:nN16285707].
Read more at Reuters.com Bonds News
Data showing a slightly stronger-than-expected rise in March retail sales helped push the Standard & Poor's 500 index to 6-1/2-year highs. For details, see [ID:nN16285707].
Read more at Reuters.com Bonds News
Oil Falls as Supply Concerns Ease; Nigerian Exports Aren't Hit by Violence
(Bloomberg) -- Crude oil fell after the flow of Nigerian oil was unaffected by violence during the April 14 local elections in Africa's biggest producer.
At least 21 people were killed during state assembly elections in Nigeria, a week before a presidential vote on April 21. Nigeria was the fifth-largest source U.S. oil imports last year. The country produces low-sulfur, or sweet, crude oil, prized by U.S. refiners because of the proportion of high-value gasoline it yields.
Read more at Bloomberg Commodities News
At least 21 people were killed during state assembly elections in Nigeria, a week before a presidential vote on April 21. Nigeria was the fifth-largest source U.S. oil imports last year. The country produces low-sulfur, or sweet, crude oil, prized by U.S. refiners because of the proportion of high-value gasoline it yields.
Read more at Bloomberg Commodities News
Boston Scientific, Fannie Mae, Fremont, JDA Software, Lilly: Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 10:10 a.m. New York time.
Adobe Systems Inc. (ADBE US) added $1.16, or 2.8 percent, to $42.80 and traded as high as $42.90. Shares of the software maker may climb above $50 within a year as more people use broadband Internet connections and mobile devices, Barron's said, citing Jeffrey Hammond of Forrester Research.
Read more at Bloomberg Stocks News
Adobe Systems Inc. (ADBE US) added $1.16, or 2.8 percent, to $42.80 and traded as high as $42.90. Shares of the software maker may climb above $50 within a year as more people use broadband Internet connections and mobile devices, Barron's said, citing Jeffrey Hammond of Forrester Research.
Read more at Bloomberg Stocks News
Retail sales rise in March
(Reuters) - Retail sales rose by 0.7 percent as warmer weather and an earlier-than-usual Easter holiday encouraged shoppers in March. Excluding automobiles and parts, sales were up a somewhat smaller-than-expected 0.8 percent, according to the Commerce Department report.
"Consumer spending has rebounded quite nicely and that may lead to a better than expected first-quarter growth rate," said Joel Naroff, economist at Naroff Economic Advisors in Holland, Pennsylvania.
Read more at Reuters.com Economic News
"Consumer spending has rebounded quite nicely and that may lead to a better than expected first-quarter growth rate," said Joel Naroff, economist at Naroff Economic Advisors in Holland, Pennsylvania.
Read more at Reuters.com Economic News
Canada Stocks Rise on Commodities, Mergers Speculation; BCE, Algoma Gain
(Bloomberg) -- Canadian stocks rose for a third day, led by BCE Inc., which advanced on a report that its biggest investor has the support of more than third of BCE shareholders for a takeover at C$40 ($35.34) a share.
Shares of commodity producers gained, as prices for copper and gold extended rallies, and Algoma Steel Inc. became the latest Canadian company to agree to be bought.
Read more at Bloomberg Stocks News
Shares of commodity producers gained, as prices for copper and gold extended rallies, and Algoma Steel Inc. became the latest Canadian company to agree to be bought.
Read more at Bloomberg Stocks News
Freddie Mac sells $4.0 billion in bills
(Reuters) - The six-month bills were priced at 97.4459 and have a money market yield of 5.213 percent.
Settlement is April 17.
Read more at Reuters.com Bonds News
Settlement is April 17.
Read more at Reuters.com Bonds News
Arcadia says to sell part of durable medical equipment business
(Reuters) - The provider of staffing and home care services said in a statement that the buyer is a regional provider of therapeutic equipment and services and the sale is expected to close in mid-to-late May.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
UPDATE 1-US net long-term capital inflows fall in Feb vs Jan
(Reuters) - February foreign purchases of long-maturity securities such as equities, notes and bonds fell short of the upwardly revised $98.8 billion in net purchases recorded for January.
U.S. agency bonds, principally backed by home mortgages, saw their lowest net purchases by foreigners in nearly three years in February, as news of troubles in the subprime mortgage sector increased.
Read more at Reuters.com Bonds News
U.S. agency bonds, principally backed by home mortgages, saw their lowest net purchases by foreigners in nearly three years in February, as news of troubles in the subprime mortgage sector increased.
Read more at Reuters.com Bonds News
Getty Images to restate results
(Reuters) - It said it found no intentional wrongdoing by current employees, officers or directors, and will continue to cooperate with the U.S. Securities and Exchange Commission in the SEC's informal inquiry into Getty's stock option practices.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Moody's says may cut SLM to "junk" on buyout
(Reuters) - "SLM's financial flexibility as well as debt protection measures for unsecured bondholders would be significantly impaired ... Cash flow coverage measures will be weak," the credit ratings agency said in a statement.
Moody's said its review for downgrade would consider the company's expected capitalisation, the extent of support from JP Morgan and Bank of America, and any possible structural protections that might be introduced to insulate SLM from financial stress.
Read more at Reuters.com Mergers News
Moody's said its review for downgrade would consider the company's expected capitalisation, the extent of support from JP Morgan and Bank of America, and any possible structural protections that might be introduced to insulate SLM from financial stress.
Read more at Reuters.com Mergers News
Copper Rises in New York on Speculation Indonesian Supplies May Be Curbed
(Bloomberg) -- Copper prices rose in New York, extending a six-week rally, on concern that supplies from Indonesia's Grasberg mine, the world's second-biggest source of the metal, may be disrupted.
Workers at the mine, owned by Freeport-McMoRan Copper & Gold Inc., plan a rally on April 18 to demand higher wages. Copper prices last week jumped 4.7 percent and were up 31 percent since March 2, partly because demand from China is surging.
Read more at Bloomberg Commodities News
Workers at the mine, owned by Freeport-McMoRan Copper & Gold Inc., plan a rally on April 18 to demand higher wages. Copper prices last week jumped 4.7 percent and were up 31 percent since March 2, partly because demand from China is surging.
Read more at Bloomberg Commodities News
UPDATE 1-N.Y. Fed manufacturing index edges higher in April
(Reuters) - The New York Fed's "Empire State" general business conditions index for the factory sector edged up to 3.80 in April from 1.85 in March. Economists polled by Reuters had expected an April reading of 7.50.
The new orders component rose to 3.94 in April from 3.14 in March, while the prices paid component rose to 40.48 in April, its highest level in eight months, from 30.23.
Read more at Reuters.com Bonds News
The new orders component rose to 3.94 in April from 3.14 in March, while the prices paid component rose to 40.48 in April, its highest level in eight months, from 30.23.
Read more at Reuters.com Bonds News
UPDATE 1-EV Energy to acquire properties in Texas from Anadarko
(Reuters) - The acquisition, which will be carried out along with certain institutional partnerships managed by EnerVest Management Partners Ltd., is expected to close by the end of June, the Houston-based oil and gas partnership said in a statement.
EV Energy said it expects the acquisition to immediately add to its distributable cash flow per unit.
Read more at Reuters.com Mergers News
EV Energy said it expects the acquisition to immediately add to its distributable cash flow per unit.
Read more at Reuters.com Mergers News
Futures add to gains after retail sales
(Reuters) - Dow Jones industrial average futures were up 42 points and Nasdaq 100 futures rose 6.75 points.
Read more at Reuters.com Hot Stocks News
Read more at Reuters.com Hot Stocks News
REFILE-Infl targets boost cenbank credibility-Fed's Plosser
(Reuters) - Plosser did not specifically address the U.S. economy or monetary policy in remarks to a conference on EU expansion.
"Policy-makers have come to accept the fact that price stability is and should be the primary focus of monetary policy," he said.
Read more at Reuters.com Bonds News
"Policy-makers have come to accept the fact that price stability is and should be the primary focus of monetary policy," he said.
Read more at Reuters.com Bonds News
Cosan, CPFL, Gerdau, Televisa and Lojas Americanas: Latin Equity Preview
(Bloomberg) -- The following stocks may make significant gains or losses in Brazil, Chile and Mexico today. Symbols are in parentheses after the company name, and stock prices are from the last session. In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Read more at Bloomberg Stocks News
Brazil
Read more at Bloomberg Stocks News
N.Y. Fed manufacturing index edges higher in April
(Reuters) - The new orders component rose to 3.94 in April from 3.14 in March, while the prices paid component rose to 40.48 in April from 30.23 in March.
The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.
Read more at Reuters.com Bonds News
The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.
Read more at Reuters.com Bonds News
W.W. Grainger posts higher quarterly profit
(Reuters) - Analysts on average expected earnings of $1.09 a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 2-Citigroup profit falls 11 pct, but trading surges
(Reuters) - Profit excluding items nevertheless topped analysts' forecasts, helped by surging trading gains, including 20 percent revenue gains from fixed-income capital markets and 26 percent from equity markets.
Net income fell for the third straight quarter, declining to $5.01 billion, or $1.01 per share, from $5.64 billion, or $1.12, a year earlier.
Read more at Reuters.com Bonds News
Net income fell for the third straight quarter, declining to $5.01 billion, or $1.01 per share, from $5.64 billion, or $1.12, a year earlier.
Read more at Reuters.com Bonds News
Oil rises back above $64, OPEC sees ample supply
(Reuters) - Oil rose back above $64 a barrel on Monday after OPEC spurned calls for members to pump more crude and said supply looked sufficient despite concerns over low U.S. gasoline stocks.
U.S. crude for May delivery rose 48 cents to $64.11 a barrel by 1055 GMT after slipping 22 cents on Friday. London Brent crude, which hit a 2007 high on Friday, stood 48 cents higher at $69.11.
Read more at Reuters Africa
U.S. crude for May delivery rose 48 cents to $64.11 a barrel by 1055 GMT after slipping 22 cents on Friday. London Brent crude, which hit a 2007 high on Friday, stood 48 cents higher at $69.11.
Read more at Reuters Africa
FTSE 100 Index Rises, Paced by Barclays, RBS; Rio Tinto, BHP Shares Gain
(Bloomberg) -- U.K. stocks advanced, led by Barclays Plc and Royal Bank of Scotland Group Plc. Rio Tinto Group and BHP Billiton gained as metal prices rose.
The benchmark FTSE 100 Index advanced 33.60, or 0.5 percent, to 6496.00 at 12:30 p.m. The FTSE All-Share Index climbed 0.5 percent to 3377.33. Ireland's ISEQ Index added 0.8 percent to 9680.25.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index advanced 33.60, or 0.5 percent, to 6496.00 at 12:30 p.m. The FTSE All-Share Index climbed 0.5 percent to 3377.33. Ireland's ISEQ Index added 0.8 percent to 9680.25.
Read more at Bloomberg Stocks News
Iberia says not in talks with Lufthansa
(Reuters) - FRANKFURT, April 16 - Spanish airline Iberia is not holding official talks with Germany's Deutsche Lufthansa AG , which is interested in buying the carrier, Iberia Chairman Fernando Conte told Reuters on Monday.
Conte added Iberia was still waiting for U.S. private equity firm Texas Pacific Group [TPG.UL] to provide more information about its interest in Iberia.
Read more at Reuters.com Mergers News
Conte added Iberia was still waiting for U.S. private equity firm Texas Pacific Group [TPG.UL] to provide more information about its interest in Iberia.
Read more at Reuters.com Mergers News
Swiss Franc Gains After SNB Head Says Currency Deviates From Fundamentals
(Bloomberg) -- The Swiss franc gained after central bank President Jean-Pierre Roth said its 2 percent drop this year versus the euro wasn't in line with the country's economic fundamentals.
Financial markets ``are currently only interested a little in the economic fundamentals of the Swiss economy and more in the interest-rate differential,'' Roth said in an interview after a meeting of the International Monetary Fund in Washington on April 14. The currency has slid as investors borrow francs to invest them in other higher-yielding currencies.
Read more at Bloomberg Currencies News
Financial markets ``are currently only interested a little in the economic fundamentals of the Swiss economy and more in the interest-rate differential,'' Roth said in an interview after a meeting of the International Monetary Fund in Washington on April 14. The currency has slid as investors borrow francs to invest them in other higher-yielding currencies.
Read more at Bloomberg Currencies News
Eaton posts higher quarterly profit
(Reuters) - Excluding one-time items, Eaton, which makes products ranging from electrical power distribution and control equipment to engine parts and hydraulic and fluid power systems, earned $1.62 a share.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Lilly quarterly profit falls, hurt by charges
(Reuters) - NEW YORK, April 16 - Eli Lilly and Co. reported lower first-quarter profit on Monday as special charges offset higher sales of the company's array of prescription medicines.
Earnings fell to $508.7 million, or 47 cents per share, from $835 million, or 77 cents per share, a year earlier.
Read more at Reuters.com Market News
Earnings fell to $508.7 million, or 47 cents per share, from $835 million, or 77 cents per share, a year earlier.
Read more at Reuters.com Market News
European Stocks Advance; ABN Amro, RBS, Royal Philips, Alitalia, BHP Rise
(Bloomberg) -- European stocks rose for a second day after ABN Amro Holding NV said banks including Royal Bank of Scotland Group Plc may offer to buy the company and Royal Philips Electronics NV reported profit that beat analysts' estimates.
ABN Amro shares jumped to a record high. The Dutch bank that's the target of the largest takeover battle in the financial-services industry also said first-quarter profit surged 31 percent, reporting earnings earlier than anticipated because of ``recent developments.'' Royal Bank of Scotland and ING Groep NV also paced the gains.
Read more at Bloomberg Stocks News
ABN Amro shares jumped to a record high. The Dutch bank that's the target of the largest takeover battle in the financial-services industry also said first-quarter profit surged 31 percent, reporting earnings earlier than anticipated because of ``recent developments.'' Royal Bank of Scotland and ING Groep NV also paced the gains.
Read more at Bloomberg Stocks News
U.S. Stock-Index Futures Rise; Google and Citigroup Shares Gain in Europe
(Bloomberg) -- U.S. stock-index futures rose on speculation takeovers will continue, and after former Federal Reserve chairman Alan Greenspan played down his earlier concern about a possible U.S. recession.
``A major takeover almost everyday now gives investors confidence that there is a lot of money out there,'' said Andreas Nigg, a fund manager at Vontobel Asset Management in Zurich, which manages $32 billion. ``The liquidity available will support the market.''
Read more at Bloomberg Stocks News
``A major takeover almost everyday now gives investors confidence that there is a lot of money out there,'' said Andreas Nigg, a fund manager at Vontobel Asset Management in Zurich, which manages $32 billion. ``The liquidity available will support the market.''
Read more at Bloomberg Stocks News
White Sugar, Robusta Coffee and Cocoa Prices Advance on Euronext.liffe
(Bloomberg) -- White sugar futures, cocoa and coffee rose in London.
Sugar futures climbed 90 cents, or 0.3 percent, to $326.90 a metric ton as of 9:44 a.m. local time on the Euronext.liffe exchange.
Read more at Bloomberg Commodities News
Sugar futures climbed 90 cents, or 0.3 percent, to $326.90 a metric ton as of 9:44 a.m. local time on the Euronext.liffe exchange.
Read more at Bloomberg Commodities News
Sallie Mae Shares May Advance on Report of $25 Billion Takeover Offer
(Bloomberg) -- Shares of SLM Corp., the U.S. student-loan provider known as Sallie Mae, may advance after the Wall Street Journal said the company accepted a $25 billion takeover bid from two private-equity funds, along with Bank of America Corp. and JPMorgan Chase & Co.
The two funds, JC Flowers & Co. and Friedman Fleischer & Lowe LLC, and the banks are offering $60 a share, almost 50 percent more than Sallie Mae's share price on April 12, before reports on a possible transaction boosted the stock, the Journal said, citing unidentified people familiar with the matter.
Read more at Bloomberg Stocks News
The two funds, JC Flowers & Co. and Friedman Fleischer & Lowe LLC, and the banks are offering $60 a share, almost 50 percent more than Sallie Mae's share price on April 12, before reports on a possible transaction boosted the stock, the Journal said, citing unidentified people familiar with the matter.
Read more at Bloomberg Stocks News
U.K. Pound Gains to Three Month High on Expectations BOE Will Lift Rates
(Bloomberg) -- The U.K. pound rose to a three- month high against the dollar on expectations minutes of the latest Bank of England meeting will suggest policy makers are minded to increase interest rates this year.
The pound rose for a fifth day as investors bought the currency in so-called carry trades, funded by borrowing in currencies with lower interest rates like the yen or Swiss franc. The BoE will release the minutes on March 18.
Read more at Bloomberg Currencies News
The pound rose for a fifth day as investors bought the currency in so-called carry trades, funded by borrowing in currencies with lower interest rates like the yen or Swiss franc. The BoE will release the minutes on March 18.
Read more at Bloomberg Currencies News
SAfrica's Edcon buyout approved by shareholders
(Reuters) - The deal is the biggest private equity deal yet in South Africa.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Edgars Shareholders Approve Bain Capital's $3.5 Billion Takeover Offer
(Bloomberg) -- Edgars Consolidated Stores Ltd. shareholders backed Bain Capital LLC's bid to buy the retailer for 25 billion rand ($3.5 billion) in South Africa's biggest leveraged buyout.
Investors controlling 80.6 percent of Edgars stock voted in favor of the 46-rand-a-share offer at a meeting in Johannesburg today, thwarting opposition from South Africa's state pension fund manager and Templeton Asset Management's Mark Mobius.
Read more at Bloomberg Emerging Markets News
Investors controlling 80.6 percent of Edgars stock voted in favor of the 46-rand-a-share offer at a meeting in Johannesburg today, thwarting opposition from South Africa's state pension fund manager and Templeton Asset Management's Mark Mobius.
Read more at Bloomberg Emerging Markets News
UPDATE 1-CRH buys stakes in Turkey, U.S. firms
(Reuters) - CRH said it had acquired 50 percent of Denizli Cement in Turkey, and exercised an option to buy the remaining 50 percent stake in Paver Systems in Florida after it took an initial 50 percent in 2004.
"The two transactions announced today are important steps in the further development of our Europe Materials and Americas Products activities," CRH Chief Executive Liam O'Mahony said in a statement.
Read more at Reuters.com Mergers News
"The two transactions announced today are important steps in the further development of our Europe Materials and Americas Products activities," CRH Chief Executive Liam O'Mahony said in a statement.
Read more at Reuters.com Mergers News
UPDATE 1-Norway's Eltek buys U.S. firm for up to $130 mln
(Reuters) - The total enterprise value of the acquisition is between $120 million and $130 million, Eltek's Chief Financial Officer Joergen Larsen told Reuters.
Established in 2001, Valere Power is backed by private equity investors including Alcatel Ventures, Dali-Hook Partners, JP Morgan Partners and Sierra Ventures.
Read more at Reuters.com Mergers News
Established in 2001, Valere Power is backed by private equity investors including Alcatel Ventures, Dali-Hook Partners, JP Morgan Partners and Sierra Ventures.
Read more at Reuters.com Mergers News
Germany's DAX Index Advances; Henkel, SAP and Siemens Lead the Gain
(Bloomberg) -- German stocks advanced, paced by Henkel KGaA, SAP AG and Siemens AG
The benchmark DAX Index rose 32.02, or 0.4 percent, to 7244.09 as of 9:09 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies climbed 0.5 percent.
Read more at Bloomberg Stocks News
The benchmark DAX Index rose 32.02, or 0.4 percent, to 7244.09 as of 9:09 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies climbed 0.5 percent.
Read more at Bloomberg Stocks News
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