NEW YORK (Reuters) – As Lehman Brothers Holdings stared failure in the face on Sunday, anxiety intensified about the health of several other big U.S. financial institutions. “We will see other major financial firms fail,” former Federal Reserve Chairman Alan Greenspan said. “Indeed, we shouldn’t try to protect every single institution. The ordinary course of […]
HM Capital Partners is selling its remaining 7.1 million units in midstream natural gas services provider Regency Energy Partners LP (Nasdaq: RGNC), via a secondary public offering. The units represent a 13% ownership stake in the company, and closed trading Friday at $20.35 per unit. www.regencygasservices.com
NEW YORK (Reuters) – Washington Mutual’s plans for another big write-down, along with its declaration that it has enough capital to survive, soothed some investors and analysts who feared the housing crisis might cripple the lender. The largest U.S. savings and loan institution said late on Thursday it expected to set aside $4.5 billion for […]
NEW YORK (Reuters) – Insurer American International Group Inc, working to stave off rating downgrades and shore up the capital of its holding company, has made an unprecedented approach to the Federal Reserve seeking $40 billion in short-term financing, the New York Times said. Chief Executive Robert Willumstad reached out to the Fed late on […]
(Reuters) – Wilbur Ross, founder of private equity firm WL Ross & Co LLC, expects as many as a thousand U.S. bank closures in the coming months, CNBC said on its website on Monday. The billionaire investor, who made his fortune making investments on distressed industries, said the closures will create opportunities for investors, CNBC […]
WASHINGTON/NEW YORK (Reuters) – Bank of America Corp said it agreed to buy Merrill Lynch & Co Inc in an all-stock deal worth $50 billion, snagging the world’s largest retail brokerage after one of the worst-ever weekends on Wall Street. The deal came after tense negotiations over the fate of Lehman Brothers Holdings Inc, which […]
WASHINGTON (Reuters) – Shares of Washington Mutual Inc (WM.N) whipsawed on Friday amid conflicting reports that JPMorgan Chase & Co (JPM.N) was in talks to acquire the battered savings and loan institution. The American Banker trade paper first reported that JPMorgan was in advanced talks to acquire WaMu. An industry source later told Reuters: “They […]
JPMorgan Chase & Co (JPM.N) is in advanced discussions to acquire Washington Mutual Inc (WM.N), a source familiar with the discussions said on Friday. “They are in advanced talks,” the source told Reuters. The source said the sensitive talks had been going on for some time and JPMorgan had conducted a lot of due diligence […]
NEW YORK/WASHINGTON (Reuters) – Concern that Lehman Brothers Holdings Inc may fail to find a buyer because the U.S. government is reluctant to provide financial backing sent the investment bank’s shares tumbling to a nearly 14-year low on Friday. Bank of America Corp (BAC.N) was widely seen as a leading contender for the role of […]
Hammond Kennedy Whitney & Co. have acquired FURminator Inc., a Fenton, Mo.-based maker of pet-grooming tools, according to LBO Wire. No financial terms were disclosed. www.furminator.com