MARKET CURRENTS
real-time news and commentary for investors
MARKET CURRENTS
Flip Order
-
Today - Friday, May 25
-
6:54 AM Lehman Brothers (LEHMQ.PK) confirms a report that it has agreed to buy the 26.5% stake it doesn't own in Archstone from Bank of America (BAC) and Barclays (BCS) for $1.58B. As expected, Sam Zell's Equity Residential (EQR), which was also battling for the apartment giant, will receive a $150M break-up fee from Lehman and the two banks. Comment!
-
5:27 AM While some top execs take huge payments despite failing, Apple (AAPL) CEO Tim Cook is giving up $75M in dividend income by excluding himself from a program that enables staff to accumulate dividends on their restricted stock units that are still vesting. Cook has 1.125M such units that are due to vest over the next 10 years. (8-K) Comment!
-
5:13 AM Citigroup (C) sells a 10.1% stake in Turkey's Akbank (AKBTY.PK) for $1.15B as part of the U.S. bank's program to sell assets in order to meet Tier 1 capital requirements. Citigroup will hold a remaining 9.9% stake for 3 years. The bank will take a post-tax $243M loss on the sale, having bought the 20% holding in 2007 for $3.1B. (PR) Comment!
-
4:44 AM Dell (DELL) is in talks to buy Quest Software (QSFT), Bloomberg reports, as the PC maker continues its strategy of shifting its focus to higher-end business customers. In March, Quest agreed to sell itself to P-E firm Insight for $2B, or $23-a-share, although it then received other offers during a "go-shop" period. Comment!
-
12:49 AM Yuanta Financial says it has pulled out of talks to buy Taiwanese Ta Chong Bank, dealing a blow to Carlyle's (CG) plans to exit the underperforming investment in a sale that could have been worth ~$1.25B. (previously) Comment!
Other date
Latest Articles
