E*TRADE FINANCIAL (ETFC) Announces Office of Thrift Supervision Approval of Citadel's Participation in Debt Exchange
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E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) announced that its primary federal banking regulator, the Office of Thrift Supervision (OTS), has approved participation by certain affiliates of Citadel Investment Group L.L.C. in the Company's previously announced debt Exchange Offer. Receipt of the OTS approval satisfies a condition to the completion of the Exchange Offer.
Pursuant to the Exchange Offer, E*TRADE proposes to exchange approximately $1.7 billion of its existing high yield notes for an equal aggregate principal amount of new zero coupon senior convertible debentures due 2019.
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confused
carmi lanurias on Aug 8, 2009 10:27 AMwhat keeps ETFC stock price so low, if Citadel and ken griffin owns a shit load of these stocks, shouldnt these stocks shoot up? Can any body explain? Please....