Merrill Sells $6.2 Billion Stake To Temasek

AP   |   December 24, 2007 10:09 AM

Read More: Common Stock, Davis Selected Advisors, Investment Banks, Investment Funds, Merrill Lynch, Singapore, Temasek Holdings, Breaking Business News
stumbleupon :Merrill Sells $6.2 Billion Stake To Temasek   digg: Merrill Sells $6.2 Billion Stake To Temasek   reddit: Merrill Sells $6.2 Billion Stake To Temasek   del.icio.us: Merrill Sells $6.2 Billion Stake To Temasek

Investment bank Merrill Lynch & Co. said Monday it sold a stake in itself to Temasek Holdings and Davis Selected Advisors for $6.2 billion as it looks to strengthen its balance sheet.

Temasek, an investment fund for the government of Singapore, will acquire $4.4 billion in Merrill Lynch common stock. Temasek has the option to purchase an additional $600 million of common stock by March 28. The investment is for no more than 10 percent of common stock.

Davis Selected Advisors will receive common stock from an $1.2 billion investment as well. Both investors will remain passive.

Comments for this post are now closed


 
 

Comments
0
Pending Comments
0

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
Comments are closed for this entry

You must be logged in to reply to this comment. Log in

 
 

Stock Quote

Enter a ticker symbol below:

Data provided by AOL