Merrill (MER) Could Receive $5B for Bloomberg, $12B for BlackRock Stakes -WSJ
More News related to BLK
- David Moenning's Daily State of the Markets: 10/03
- Citi Analyst Sees Shift in Financial Services Landscape, Comments on Brokers & Asset Managers
- Debra Huddleston Joins BlackRock as Head of Transaction Management for the Financial Markets Advisory Group
- Black Pearl Closes First Tranche of Private Placement
- Black Pearl Closes First Tranche of Private Placement
More News related to MER
- Investors With Losses in Large Concentrated Positions Should Consider Their Legal Options, Announces The Securities Law Firm of Klayman & Toskes
- Pomerantz Haudek Block Grossman & Gross LLP Reminds Series T, Preferred Stock Shareholders of Fannie Mae of Upcoming Lead Plaintiff Deadline -- MER, C, MS, UBS, WB
- Lead Plaintiff Deadline Approaching for Preferred Stock, Series 2008-1 Shareholders of Fannie Mae -- JPM, LEHMQ, BAC, MER, GS
- Gainey & Mckenna Commences Class Action On Behalf of American International Group, Inc. 7.70% Series A5 Junior Subordinated Debentures Investors -- AVF, AIG
- Investors Suffering Stock Market Losses as a Result of Holding Over-Concentrated Positions May Have Claims Against Their Brokers; The Law Firm of Stein, Rosenberg & Stein, P.A. is Investigating
The Wall Street Journal is the reporting that Merrill Lynch (NYSE: MER) continues to move closer to making deals to sell its stakes in Bloomberg and BlackRock (NYSE: BLK). Selling part or all of either stake would raise much-needed cash as the company is expected to report up to $6 billion in write-downs during Q2.
The article says that Merrill could raise $5 billion for its 20% stake in Bloomberg and more than $12 billion from its 49% interest in BlackRock. According to people familiar with the matter, Merrill would likely only sell a part of its BlackRock stake in an attempt to maintain a strategic alliance if a deal is done.
Merrill Lynch & Co., Inc., together with its subsidiaries, provides investment, financing, insurance, and related services to individuals and institutions worldwide.
Related Categories
Corporate NewsMergers and Acquisitions
Rumors
Stocks Mentioned
+5.45Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
