..:: GrUpA pAtRu ::..
Forumul oficial al grupei 4 - UCDC StP (c)2005 alex si 3xmedia.ro
|
Nou pe simpatie:
carmenitza
 | Femeie
24 ani
Ialomita
cauta Barbat
24 - 48 ani |
|
|
..:: GrUpA pAtRu ::..ReguliInregistrareLoginPozeNu sunteti logat. Lista Forumurilor Pe Tematici
|
| #1 |
|
|
WSJ.com - Citigroup Says NYSE Deal Is Fair
Online Journal E-Mail Center
November 24, 2005 -- 2:48 a.m. EST
Citigroup Says NYSE Deal Is Fair
The NYSE's deal to acquire Archipelago is financially fair to Big Board members, according to a Citigroup review. (Text of the opinion)
full story below
MARKETS LAST CHANGE
Dow Jones Industrials* 10916.09 44.66
Nasdaq Composite* 2259.98 6.42
Nikkei 225* 14742.58 34.26
FTSE 100* 5531.70 14.50
Stoxx 50* 3312.84 11.55
Source: Reuters and Dow Jones * At close
Note: Closing quotes are preliminary
(Wall Street Journal Online subscription required)
Arcelor Bids $3.8 Billion for Dofasco
Arcelor launched a $3.8 billion hostile bid for Canada's Dofasco, as the Luxembourg-based steelmaker seeks to break into North America's automotive market and expand its global market share.
Xbox 360 Owners Report Problems
Some Xbox 360 owners are reporting technical problems with the new videogame system. Microsoft says the issues are isolated and involve a "small fraction" of the machines sold.
Hwan Woo Suk Admits Ethics Lapses
A South Korean scientist apologized for ethics lapses in his stem-cell research lab. Hwan Woo Suk, who is known as a pioneer in cloning, admitted that two female scientists in his lab had donated their own eggs for research.
Initial Jobless Claims Rise by 30,000
Initial jobless claims jumped by 30,000 last week, their largest advance in two months, suggesting the labor market is still trying to gain traction after the Gulf hurricanes. (Full report)
Michael Rigas Pleads Guilty
Michael Rigas, son of Adelphia's founder, pleaded guilty to making a false financial entry, eliminating the need for his U.S. retrial.
Swisscom Explores Joining TDC Bidding
Swisscom is exploring joining forces with a group of private-equity firms to bid for TDC, Denmark's largest telecom company.
Pinault Firm Ordered to Pay California
A U.S. judge sentenced French billionaire François Pinault's investment firm to pay $190 million plus interest over its acquisition of failed insurer Executive Life.
BlackBerry Maker Cuts Sign-Up Forecast
Research In Motion cut its forecast for BlackBerry subscriber growth by 8% for its current fiscal quarter, citing delays in launching new models of the wireless devices.
Techs March Ahead; RIM Slips
Trading was sluggish in the technology sector Wednesday ahead of the Thanksgiving holiday, but the major indexes marched ahead, continuing their winning streak.
Blue Chips Rally Toward Highs
The Dow industrials rose 44.66 points to 10916.09 and neared a multiyear high, spurred by hopes that the Fed will stop lifting rates. Oil prices declined.
TOP STORY Citigroup Says NYSE Deal
For Archipelago Is Fair
By AARON LUCCHETTI
Staff Reporter of THE WALL STREET JOURNAL
Bankers from Citigroup Inc. released an opinion Wednesday saying the New York Stock Exchange's deal to acquire Archipelago Holdings Inc. is financially fair to NYSE members.
The 213-year-old exchange agreed to let Citigroup review the deal when it reached a settlement last week with a handful of dissident members who had sued the exchange arguing for better terms on the merger with the Chicago-based electronic stock-exchange operator.
Under current terms of the deal, the NYSE will become a publicly traded company called NYSE Group Inc. The exchange also projected Wednesday that the new company's revenues and profits over the next two years will come in slightly lower than predicted earlier. Citing factors that included a delay in some planned NYSE trading fee increases and lower market-data revenue, the exchange said the combined company would earn $192.4 million next year on revenues of $1.52 billion, down about 1% and 2% respectively from earlier projections.
The new company will be 70% owned by NYSE members and employees, with the rest owned by Archipelago shareholders. The NYSE's 1,366 members are scheduled to vote on the deal Dec. 6. It requires a two-thirds majority of votes cast to pass, which seems more likely in light of the Citigroup opinion. If approved, the deal is expected to close early next year.
Citigroup is being paid $3.5 million for the opinion, the same amount Goldman Sachs Group Inc. was paid by both Archipelago and the NYSE for its investment banking work on the deal. Goldman's role and its ownership stake in both Archipelago and the NYSE was part of the reason dissident members, led by retired broker William Higgins, brought their suit against the exchange shortly after the deal was announced in April. They argued that an independent bank that didn't have a stake in Archipelago or a close relationship with Goldman should also approve the deal's fairness.
As part of its decision to review the deal, Citigroup said it would vote its 19 NYSE memberships in the same proportion as the votes being cast by other members of the NYSE. The exchange has 1,366 members overall.
(Wall Street Journal Online subscription required)
China Textile Firms May Win on Trade Deal
The recent China-U.S. textile agreement ends what Chinese companies enjoyed in 2005: complete freedom to export to the U.S. But it will introduce a greater degree of stability -- and predictability -- into China's sales.
* * *
. Investors Calculate Risks of Flu Pandemic
. Italy's Galbani Goes Up for Sale
. U.S. Seeks Bono's Help in Trade Talks
advertisement
E-MAIL SIGN-UP
Get the media's take on the biggest news of the past day and a preview of today's top stories, in The Morning Brief, published every business day by 6:30 am (ET). Plus, keep up to date on all that's transpired since the morning paper, twice daily, in The Afternoon Report and The Evening Wrap. Check the boxes below to subscribe.
The Morning Brief
The Afternoon Report
The Evening Wrap
To view all or change any of your e-mail settings, please visit the E-Mail Center.
FREE U.S. QUOTES
Symbol Name
Three great ways to get
ONLINE
Start a FREE two-week trial of the Online Journal
PRINT
Get Free Weeks of The Print Journal
MOBILE
Get up-to-date headlines on the go
TO UNSUBSCRIBE DIRECTLY from this list, click here.
Your request will take effect within 48 hours.
TO VIEW OR CHANGE any of your e-mail settings, click here.
You are currently subscribed as
FOR FURTHER ASSISTANCE, please contact Customer Service at 1-800-369-2834 or 1-609-514-0870 between the hours of 7 a.m. and midnight Eastern Time Monday - Friday or e-mail .
--------------------------------------------------------------------------
Copyright 2005 Dow Jones & Company, Inc. All Rights Reserved.
|
|
| |
|
