European Stocks May Drop for Fifth Day; Total, BHP, Northern Rock May Fall

(Bloomberg) -- European stocks may fall for a fifth
day, paced by energy and basic-resources shares as crude oil
traded near a nine-day low and metals prices dropped.

U.S.-traded securities of Total SA and Eni SpA declined. BHP
Billiton Ltd. and Rio Tinto Group retreated in Australian
trading. Northern Rock Plc, the U.K.'s seventh-largest bank, may
fall after saying it sees 2007 profit growth missing analysts'
estimates as interest rates rose more than expected.


Read more at Bloomberg Stocks News

Tunisia c.bank keeps benchmark rate on hold

(Reuters) - Tunisia's central bank kept its key interest rate on hold, citing slowing inflation, swelling tourism revenue and strong exports, the bank said on Tuesday.

"In light of these evolutions, the management board decided to maintain the central bank's interest rate unchanged," it said in a statement after a monthly board meeting.


Read more at Reuters Africa

MISC, LNG Carrier, Postpones $750 Million Bond Sale on `Market Volatility'

(Bloomberg) -- MISC Bhd., the world's biggest owner
of liquefied natural gas tankers, postponed a planned dollar-
denominated bond sale because of fluctuations in debt yields
sparked by losses linked to U.S. subprime mortgages.

Kuala Lumpur-based MISC, a unit of Malaysian state-owned oil
company Petroliam Nasional Bhd., hired Citigroup Inc. and
Deutsche Bank AG to sell $750 million of 10-year bonds, an e-mail
sent to investors earlier this week showed.


Read more at Bloomberg Emerging Markets News

ProSiebenSat.1 to Combine With SBS Broadcasting in Deal Worth $4.4 Billion

(Bloomberg) -- ProSiebenSat.1 Media AG will combine
forces with SBS Broadcasting Group in a transaction valued by the
companies at 3.3 billion euros ($4.4 billion), the companies
announced today in an e-mailed statement.

ProSiebenSat.1 Media AG, Germany's largest broadcaster,
plans to create a pan-European broadcasting group, which will
significantly reduce its dependence on the German television
advertising market, the statement said. ProSiebenSat.1 expects to
complete the purchase in July.


Read more at Bloomberg Bonds News

Argentina, Brazil, Peru and Venezuela: Latin American Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American local bonds
today. Bond yields are from the previous session.

Argentina: President Nestor Kirchner's approval rating fell
to the lowest level since taking office in May 2003 amid rising
consumer prices and energy shortages. Kirchner's approval rating
fell in June to 52 percent from 57 percent in May, according to
Buenos Aires-based Poliarquia. The president's approval rating
was 82 percent in February 2004.


Read more at Bloomberg Bonds News

Bancolombia, MMX Mineracao, Tam, Telmex: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Colombia 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.


Read more at Bloomberg Stocks News

UPDATE 1-UTAC jumps on bid news, analysts say offer is fair

(Reuters) - SINGAPORE, June 27 - Shares of United Test and
Assembly Center rose as much as 8.3 percent on
Wednesday after private equity firm Texas Pacific Group and
Asia-focused buyout firm Affinity Equity Partners offered to
buy the Singapore microchip tester.




UTAC shares hit S$1.17, a level last seen in February 2004,
and the stock was the most actively traded stock on the
Singapore bourse with more than 146 million shares changing
hands.


Read more at Reuters.com Mergers News

UPDATE 2-C-C Amatil lifts outlook; S.Korea talks continue

(Reuters) - Coca-Cola Amatil, 35 percent-owned by Coca-Cola Co. ,
also said negotiations over the sale of its South Korea
business, which has a book value of A$700 million , were continuing.




The company said it now sees first-half earnings before
interest and tax rising 12 percent, above a previous forecast,
due to strong sales in Australia and New Zealand. It had
previously forecast high single-digit growth.


Read more at Reuters.com Mergers News

Shanghai Copper Falls to Three-Month Low on U.S. Demand Concern; Zinc Down

(Bloomberg) -- Copper prices fell for the fourth day
in Asia on concern consumption may be slowing in the U.S., the
world's second largest user of the metal.

U.S. new-home purchases dropped in May, signaling demand is
still dwindling in the second year of a housing slump. Builders
are the biggest consumers of the metal, which also came under
pressure from speculation that China may raise interest rates for
the third time this year.


Read more at Bloomberg Commodities News

WRAPUP 3-Bear Stearns not planning to bail out second fund

(Reuters) - NEW YORK, June 26 - Bear Stearns Cos. Inc.
does not plan to bail out the second of two struggling
hedge funds -- citing stabilizing markets -- but the subprime
loan woes that brought down the funds still worry investors.




Stocks fell and Treasuries edged higher late on Tuesday on
concern problems stemming from defaults by less-credit-worthy
mortgage holders could reverberate through the markets.


Read more at Reuters.com Bonds News

U.S. says importer of Chinese tires must do recall

(Reuters) - "We sent them a letter tonight saying that's unacceptable," Nason said.




She also said the agency will seek more information from Chinese manufacturer Hangzhou Zhongce Rubber Co. about the defect claim. Hangzhou Zhongce has said its products have no quality problems.


Read more at Reuters.com Government Filings News

UPDATE 1-Conoco says Venezuela controls its operations there

(Reuters) - It said negotiations are continuing between ConocoPhillips
and Venezuelan authorities over compensation for the company's
stake in the projects.




Still, the company said it has preserved all its legal
rights, including international arbitration.


Read more at Reuters.com Bonds News

Oil Trades Near Nine-Day Low on Forecasts for Rising U.S. Gasoline Stocks

(Bloomberg) -- Crude oil was little changed in New
York after falling to a nine-day low yesterday as forecasts for
an eighth weekly increase in U.S. motor-fuel supplies pushed
gasoline 2.4 percent lower.

An Energy Department today will probably show U.S. gasoline
stockpiles gained 1 million barrels last week as refiners raised
output, according to a Bloomberg News survey of 15 analysts. A
record 41.1 million Americans, 0.8 percent more than a year ago,
may travel next week for the Independence Day holidays,
according to an AAA survey published yesterday.


Read more at Bloomberg Energy News

US SEC's Cox says CDO probes are subprime-related

(Reuters) - "Each of these cases will turn out its own facts but this
is the securities fraud enforcement piece of it, and not
obviously anything to do with banking or lending-related
issues," Cox said. He added that the investigations were
launched in 2007.




Read more at Reuters.com Government Filings News

GSI Commerce Falls, Nike Advances on Earnings: U.S. After Hours Trading

(Bloomberg) -- Nike Inc. gained in extended U.S.
trading after the world's largest athletic-shoe maker said
fourth-quarter profit climbed 32 percent on increased overseas
demand and higher clothing and equipment sales in the U.S.

Shares of Beaverton, Oregon-based Nike climbed $2.78, or
5.2 percent, to $56.60 at 6 p.m. New York time. Net income rose
to 86 cents a share from 64 cents a year earlier, matching
analysts' estimates.


Read more at Bloomberg Stocks News

Argentina stocks, bonds down amid investor concerns

(Reuters) - "There is a wave of bad feeling among investors due to both
internal and external factors," said Fernando Izzo, an analyst
with ABC Mercado de Cambios.




The government has had to apply cuts in natural gas and
electricity provisions for large consumers to guarantee service
to homes during a winter cold spell, which has intensified
overall demand for energy.


Read more at Reuters.com Bonds News

Centerline to start distressed debt fund

(Reuters) - For the past several years, commercial real estate investors have used as much cheap debt as they could to buy properties. Many of those loans made their way into pools of mortgages behind commercial mortgage-backed securities .




Last year, $202.7 billion of U.S. CMBS bonds were generated from commercial mortgage pools, according to Commercial Mortgage Alert, a trade paper.


Read more at Reuters.com Bonds News

Germany mulling programme to boost energy efficiency

(Reuters) - State support for renewable energy and cogeneration -- the
simultaneous production of electricity and heat -- will also be
increased, the paper reported in a preview of its Wednesday
edition, citing the documents.




Spending on research into climate change and new energy
technologies would be raised clearly above the current 500
million euros annually, the paper added. Environment Minister
Sigmar Gabriel has warned the energy industry against
obstructing efforts to protect the climate, the Frankfurter
Allgemeine reported.


Read more at Reuters.com Bonds News

Southwest braces for turbulence as it turns 30

(Reuters) - NEW YORK, June 26 - Southwest Airlines Co.
once seemed impervious to the turbulence that buffeted
other U.S. airlines, but on the eve of its 30th anniversary as
a public company, the first and still the biggest U.S. low-cost
carrier looks vulnerable.




Big carriers like Delta Air Lines Inc. have cut
costs in bankruptcy, low-fare competitors like JetBlue Airways
Corp. offer unmatched perks such as live television,
and Southwest's fuel hedges no longer provide the same level of
protection from high fuel costs that they once did.


Read more at Reuters.com Market News

Treasuries Decline on U.S. Two-Year Note Auction, Corporate Bond Rebound

(Bloomberg) -- Treasuries fell, pushing yields on
two-year notes up from their lowest this month, as the
government sold $18 billion of the securities in an auction and
the perceived risk of owning corporate bonds fell.

Two-year notes in particular had benefited from concern a
weak housing market would lead to losses for investors in
mortgage-backed securities. All Treasuries have yields lower
than the Federal Reserve's benchmark lending rate, which the
central bank is expected to leave at 5.25 percent at a two-day
meeting that starts tomorrow.


Read more at Bloomberg Bonds News

UPDATE 1-Yield on Mexico 28-day Cetes edges up at auction

(Reuters) - Longer-term Cetes yields were mixed at the central bank's
weekly auction, with 91-day paper up 1 basis point at 7.37
percent and the 175-day note down 1 basis point at 7.44
percent.




The yield on the 5-year bond was up 14 basis points at 7.73
percent from the last time it was auctioned on May 29.


Read more at Reuters.com Bonds News

U.S. Stocks Erase Gains; S&P 500 Declines for Fourth Time in Five Days

(Bloomberg) -- U.S. stocks declined and the
Standard & Poor's 500 Index slid for the fourth time in five
days, dragged down by energy shares after the price of oil fell.

The S&P 500 lost 1.29, or 0.1 percent, to 1496.45 as of
2:26 p.m. in New York. The Dow Jones Industrial Average added
10.48, or 0.1 percent, to 13,362.53, helped by rallies in Merck
& Co. and Altria Group Inc. The Nasdaq Composite Index was
little changed at 2577.11.


Read more at Bloomberg Stocks News

UPDATE 1-Exxon, Shell to sell Canada gas project stake

(Reuters) - Bids on Exxon Mobil's 12 percent and Shell's 6 percent of
the long-delayed development are due Aug. 8, IndigoPool, the
Houston-based acquisition and divestiture service, said in an
email.




EnCana Corp. is the operator of Deep Panuke, with
a 78 percent interest. It restarted efforts to develop it last
year after halting its application in 2003 over high costs.


Read more at Reuters.com Mergers News

Manulife expands Canadian mutual fund business

(Reuters) - The deal is part of a plan by Canada's biggest life insurer
to expand its mutual funds unit.




The takeover adds more than 700 advisers and 237 branches
to Manulife Securities International, creating a sales force of
1,500 independent advisers and a business with about C$19
billion in assets under administration.


Read more at Reuters.com Mergers News

Yen Rises Versus Euro, Dollar as Omi Mentions Risk of One-Way Currency Bet

(Bloomberg) -- The yen gained versus the dollar and
euro after Japan's Finance Minister Koji Omi said investors are
taking risks in one-way bets against the currency.

Japan's yen rose against 15 of the 16 most-active currencies
tracked by Bloomberg, outperformed only by Brazil's real, after
Omi told reporters in Tokyo that ``disorderly moves of foreign
exchange rates are undesirable.'' The remarks were aimed at
discouraging investors who borrow yen to buy higher-yielding
assets in carry trades. The currency pared most of its gains
after U.S. stock indexes reversed declines.


Read more at Bloomberg Currencies News

UPDATE 1-Payless becomes exclusive US retailer for Dexter

(Reuters) - The deal is the latest step in Payless' "House of Brands"
strategy, in which the company aims to transform itself from a
shoe retailer into a brand-holding force in the footwear
industry. Shareholders will vote later this year on the
company's proposed name change to Collective Brands Inc.




Dexter is now part of a growing stable of brands for
Payless, which also includes Airwalk, American Eagle ,
Tailwind, Champion, Spalding and Dunkman.


Read more at Reuters.com Mergers News

TREASURIES-Bond prices fall on profit-taking before auction

(Reuters) - NEW YORK, June 26 - U.S. Treasury debt prices
fell on Tuesday on profit-taking before an auction of new
two-year notes, despite unexpectedly weaker housing and
consumer confidence reports.




Government bonds have tapped flight-to-quality flows after
problems at two Bear Stearns' hedge funds renewed worries
about the subprime mortgage sector and traders said caution
was also creeping in before the Federal Reserve's two-day
meeting begins on Wednesday.


Read more at Reuters.com Bonds News

Huntsman, Kroger, Steelcase, Steak n Shake, Synnex: U.S. 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 11:40 a.m. New York time.

Celgene Corp. (CELG US) gained $1.64, or 2.9 percent, to
$57.89. The maker of drugs to treat blood cancers was raised to
``overweight'' from ``equal weight'' by Lehman Brothers Inc.
Celgene will be the ``top revenue and earnings performer'' among
large biotechnology companies, analyst Jim Birchenough wrote in a
note to clients.


Read more at Bloomberg Stocks News

UPDATE 1-Brazil's Lula popularity still high

(Reuters) - Brazilians were pleased with the country's strong economic
performance, rising wages and social welfare programs,
according to a Sensus opinion poll published by the National
Transport Confederation.




Lula's personal approval rating rose to 64 percent, its
highest rate since February 2005, from 63.7 percent in April,


Read more at Reuters.com Bonds News

Mexican stocks down on U.S. mortage market fears

(Reuters) - Global equities have also come under pressure in recent
days as trouble in the U.S. subprime mortgage industry, has
spread to two hedge funds managed by Bear Stearns with
heavy exposure in the sector. Subprime mortgages cater to
borrowers with troubled credit histories.




Investors worry that problems in the sector could spread to
the rest of the U.S. economy. That would be bad for Mexico's
economy, which sends almost 90 percent of its exports to its
northern neighbor.


Read more at Reuters.com Bonds News

Copper Futures Decline Amid Signs of Slower Metal Demand in China, U.S.

(Bloomberg) -- Copper declined in New York on signs
that consumption may be slowing in China, the world's largest
user of the metal, and the U.S., the second-biggest.

China's copper imports in May fell 37 percent from April,
an indication that domestic supplies are more than adequate.
U.S. new-home purchases dropped in May, signaling demand is
still dwindling in the second year of the housing slump.
Builders are the biggest consumers of the metal. Copper, used in
pipes and wires, fell 1.1 percent last week.


Read more at Bloomberg Commodities News

UPDATE 1-U.S. new home sales fell 1.6 percent in May

(Reuters) - WASHINGTON, June 26 - Sales of new U.S. homes
fell 1.6 percent in May to a lower-than-expected level while
prices climbed from April, according to a government report on
Tuesday that continued to point to weakness in the housing
sector.




New single-family home sales fell to an annual rate of
915,000 from a downwardly revised rate of 930,000 in April, the
Commerce Department said.


Read more at Reuters.com Economic News

UPDATE 1-First Community Bancorp buys commercial finance firm

(Reuters) - The deal value of $35 million consists of $6 million in
cash and $29 million in First Community common stock, the bank
holding company said in a statement.




Shares of San Diego, California-based First Community were
trading up about 2 percent at $56.99 in morning trade on the
Nasdaq.


Read more at Reuters.com Mergers News

US STOCKS-Indexes edge down after data

(Reuters) - The Dow Jones industrial average was down 2.04
points, or 0.02 percent, at 13,350.01. The Standard & Poor's
500 Index was down 0.67 point, or 0.04 percent, at
1,497.07. The Nasdaq Composite Index was down 1.03
points, or 0.04 percent, at 2,576.05.




Read more at Reuters.com Bonds News

U.S. New-Home Sales Decreased 1.6 Percent to a 915,000 Annual Pace in May

(Bloomberg) -- Purchases of new homes in the U.S.
dropped in May, signaling demand is still faltering in the
second year of the housing slowdown.

Sales fell 1.6 percent to an annual pace of 915,000 last
month from a revised 930,000 rate the prior month that was lower
than previously estimated, the Commerce Department said today in
Washington. The supply of unsold homes at the current sales pace
rose.


Read more at Bloomberg Bonds News

UPDATE 1-Brazil April current account widens, FDI jumps

(Reuters) - The surplus was higher than the $1.5 billion median
forecast of 21 economists surveyed by Reuters. The forecasts
ranged from $1.2 billion to $2 billion.




In the 12 months through April, the current account surplus
was equivalent to 1.37 percent of gross domestic product,
compared with 1.23 percent of GDP in the 12 months through
March.


Read more at Reuters.com Economic News

Oil Falls on Speculation That U.S. Crude, Fuel Inventories Rose Last Week

(Bloomberg) -- Crude oil fell on forecasts that an
Energy Department report will show U.S. oil and fuel inventories
rose last week.

Crude-oil stockpiles increased 1.5 million barrels in the
week ended June 22, according to the median of responses by 13
analysts surveyed by Bloomberg News. Inventories of gasoline and
distillate fuel, a category that includes heating oil and diesel,
also rose, the survey showed.


Read more at Bloomberg Energy News

US STOCKS-Indexes open up on M&A news, bond yield dip

(Reuters) - The Dow Jones industrial average was up 36.33
points, or 0.27 percent, at 13,388.38. The Standard & Poor's
500 Index was up 5.25 points, or 0.35 percent, at
1,502.99. The Nasdaq Composite Index was up 11.99
points, or 0.47 percent, at 2,589.07.




Read more at Reuters.com Bonds News

Kroger profit hit by labor charge, shares lower

(Reuters) - Profit was $336.6 million, or 47 cents per share, in the
fiscal first quarter ended May 26, up from $306.4 million, or
42 cents per share, a year earlier.




Analysts, on average, had expected Cincinnati-based Kroger
to earn 48 cents per share, according to Reuters Estimates.


Read more at Reuters.com Market News

GLOBAL MARKETS-Stocks down, yen up as investors trim risks

(Reuters) - Wall Street fell and swap spreads widened on Monday as
problems at two hedge funds managed by Bear Stearns
rekindled worries about U.S. subprime mortgages, which cater to
borrowers with troubled credit histories, and the potential
impact on the world's biggest economy.




This attracted flows into safe-haven government bonds and
revived prospects for a Federal Reserve interest rate cut this
year.


Read more at Reuters.com Economic News

Futures gain on M&A, steady bond yields

(Reuters) - Ventana Medical Systems Inc. , a tissue-based diagnostics specialist, received a takeover offer from Swiss drug maker Roche late on Monday, sending Ventana shares up 52 percent to $78.75 in electronic composite trading.




"There have been so many rumors that there will be no more deals being done. VMSI getting taken out by Roche helps the market out," said Todd Leone, head of listed trading at Cowen & Co. in New York.


Read more at Reuters.com Hot Stocks News

No quick profit in China credit card market -survey

(Reuters) - The survey, commissioned by a unit of First Data Corp. , a credit card transaction processor, found that 85 percent of respondents believe the prospects for credit cards in China are promising.




But 43 percent of retail bankers reckon it will be hard to make money in the market over the next three years, due in part to inadequate payment and regulatory infrastructure and a deep-rooted savings culture that shuns plastic, the survey found.


Read more at Reuters.com Bonds News

Hiroshi Watanabe to End Term as Japan's Top Currency Official, Person Says

(Bloomberg) -- Hiroshi Watanabe will step down as
Japan's top currency bureaucrat after presiding over a 12
percent decline in the yen against the dollar, a Finance
Ministry official said.

Watanabe will be replaced as vice finance minister for
international affairs by Naoyuki Shinohara, the official said on
the condition of anonymity. The ministry usually reshuffles its
top personnel around this time of the year.


Read more at Bloomberg Currencies News

Platinum Advances as Buying by Manufacturers Increases; Palladium Rises

(Bloomberg) -- Platinum rose in London on buying by
manufacturers attracted by yesterday's slide in prices.

``We've seen a little bit more interest,'' said Mark
Bedford, director of precious-metals marketing at Johnson Matthey
Plc in Royston, England. ``When prices dropped yesterday, there
was more interest from industrial buyers.''


Read more at Bloomberg Commodities News

Scottish Power Is Admitted to Endex to Trade Dutch Natural Gas Contracts

(Bloomberg) -- Scottish Power Plc's trading unit
joined the European Energy Derivatives Exchange to handle Dutch
natural gas contracts. JPMorgan Chase & Co. was admitted as the
exchange's seventh clearing member.

Glasgow-based Scottish Power became the 35th trading member
of Endex, the bourse said today in an e-mailed statement. It
will trade Dutch Title Transfer Facility gas futures, Endex
said.


Read more at Bloomberg Energy News

US stock futures hint at flat start on Wall St

(Reuters) - Blue chip stocks were plagued by worries the exposure of
U.S. banks to the subprime sector may be worse than originally
suspected, ahead of the release of U.S. data on new home sales
later in the session.




By 0928 GMT September Standard & Poor's 500 futures
were roughly unchanged. The S&P index has shed almost 3
percent since hitting seven-year highs on June 1.


Read more at Reuters.com Bonds News

U.S. Stock-Index Futures Are Little Changed; Oracle Declines in Europe

(Bloomberg) -- U.S. stock-index futures were little
changed before a report that may show purchases of new homes in
the U.S. probably dropped in May.

Shares of Oracle Corp., the world's third-largest software
maker, and Nike Inc., the biggest athletic-shoe maker, declined
in Europe before reporting earnings. Apple Inc., whose market
value passed $100 billion in May as euphoria mounted over its
iPhone, rose in Germany after RBC Capital Markets recommended
buying the stock.


Read more at Bloomberg Stocks News

CORRECTED - Dutch VEB to continue to prevent ABN's LaSalle sale

(Reuters) - A Dutch commercial court froze the $21 billion sale of
Chicago-based LaSalle to Bank of America in May, a side
deal to ABN's agreement to be bought by Britain's Barclays
, as the deal required shareholder approval.




VEB's chairman Peter Paul de Vries said chances had
increased that LaSalle would be sold to Bank of America after a
Supreme Court adviser said the deal does not need shareholder
approval, but he added: "We will use all legal means to prevent
the ABN trick."


Read more at Reuters.com Mergers News

FTSE dips 0.5 pct on US subprime concerns, BAE

(Reuters) - Britain's top share index fell 0.5 percent early on Tuesday, tracking losses in U.S. and Asian markets as worries over U.S. subprime mortgages persisted, while BAE Systems sank on news of a corruption probe.

At 0741 GMT the FTSE 100 was down 31.5 points, or 0.48 percent at 6,556.9, moving back into negative territory after breaking a five-day lossing streak on Monday as financial and commodity shares weighed. European shares also slipped.


Read more at Reuters Africa

Honeywell to buy Dutch Enraf for $260 mln

(Reuters) - Enraf, whose technology is used by energy companies for transport and storage, had 2006 sales of about $130 million, Honeywell said. After the transaction, Enraf will become part of Honeywell's process solutions segment, the company said.



) Keywords: HONEYWELL ENRAF


Read more at Reuters.com Mergers News

No vote needed for ABN's LaSalle sale: court advise

(Reuters) - A Dutch commercial court froze the $21 billion sale of Chicago-based LaSalle to Bank of America in May pending a shareholders' vote, but ABN and others appealed against the decision.




"The Advocate General advises the Supreme Court to quash the Commercial Court's ruling," Timmerman said in a statement, adding that the LaSalle transaction does not need shareholders' approval based on article 2:8 of the Dutch civil code.


Read more at Reuters.com Business News

U.K. Stocks Drop, Paced by Shares of BAE Systems and Cadbury Schweppes

(Bloomberg) -- U.K. stocks fell. BAE Systems Plc,
Europe's biggest weapons maker, led the retreat after saying the
U.S. started an investigation into the company's compliance with
anti-corruption laws.

The benchmark FTSE 100 Index lost 33.1, or 0.5 percent, to
6555.30 as of 8:05 a.m. The FTSE All-Share Index fell 18.09, or
0.5 percent, to 3380.29. Ireland's ISEQ Index slipped 30.61, or
0.3 percent, to 9354.


Read more at Bloomberg Stocks News

No vote needed for ABN's LaSalle sale -court advise

(Reuters) - A Dutch commercial court froze the $21 billion sale of
Chicago-based LaSalle to Bank of America in May, a side
deal to ABN's agreement to be bought by Britain's Barclays
, but ABN and others appealed the court's decision.




"The Advocate General advises the Supreme Court to quash the
Commercial Court's ruling," Timmerman said in a statement,
adding that the LaSalle transaction does not need approval of
shareholders based on article 2:8 of the Dutch civil code.


Read more at Reuters.com Mergers News