MOVING to bolster its waning capital amid writedowns of mortgage-related assets, Merrill Lynch says it will sell up to $US6.2 billion ($7.2 billion) of newly issued common stock at a discount to two investors and divest its middle-market...
Merrill Lynch shored up its capital base by as much as $7.5 billion after selling a stake to Singapore's government and an asset manager, and unloading much of a lending business, as it wrestles with huge subprime mortgage losses.
Merrill said...
NEW YORK — It hasn't taken John Thain long to put his stamp on the world's largest brokerage.
After being named chairman and chief executive of Merrill Lynch & Co. just three weeks ago, Thain on Monday secured a capital infusion worth up to...
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Merrill Lynch said Monday it will take $6.2 billion in investments from the Singapore government and a mutual fund manager to shore up its capital base, as many analysts expect the investment bank to announce a second consecutive quarterly loss...
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John A Thain said this in:
12 months ago from Gadsden Times