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Published October 26, 2009 at 4:20 PM
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 Welcome to Deal Stocks. In the news Monday are ING Group NV (NYSE:ING), Ares Capital Corp. (NASDAQ:ARCC), Allied Capital Corp. (NYSE:AFC), Bank of America Corp. (NYSE:BAC), Blackstone Group LP (NYSE:BX), Merlin Entertainments Group Ltd., CIT Group Inc. (NYSE:CIT) and Goldman Sachs Group Inc. (NYSE:GS). For more hot stocks, check out the arbitrage charts in The Deal Pipeline (subscription required) or stocktwits. Stocks fell Monday even though the market started the day in the positive.
- ING Group NV (NYSE:ING) plans to sell assets including its entire insurance arm to raise €7.5 billion ($11.3 billion) through a share issue to fund the early repayment of some of the €10 billion of state bailout funds it received last year. (The Deal Pipeline subscribers can read the full story here.)
- New York lender Ares Capital Corp. (NASDAQ:ARCC) will acquire Washington peer Allied Capital Corp. (NYSE:AFC) in a stock swap worth $648 million, or $3.47 per share, the companies announced Monday. Allied Capital shareholders will receive .325 Ares Capital shares for each Allied share they hold. The exchange ratio gives a 27.3% premium to Allied's closing price on Oct. 23. (Deal Pipeline subscribers can read the full story here.)
- Barclays Plc (NYSE:BARC) bought the bank arm of British insurer Standard Life Plc for $369 million on Monday to build up its UK mortgage and savings business.
- Private equity firm Blackstone Group LP (NYSE:BX) may be planning a 2010 IPO of its European theme park operator Merlin Entertainments Group Ltd. that could raise $3.3 billion, according to the Financial Times.
- Distressed middle-market lender the CIT Group Inc. (NYSE:CIT) is in talks to increase an existing $3 billion loan from six of its large bondholders by an incremental $4.5 billion, according to a regulatory filing released late Friday. The troubled lender has also reached a deal with Goldman Sachs Group Inc. (NYSE:GS) to reduce an existing $3 billion loan to $2 billion, paring the amount CIT would have to pay Goldman if it were to file for Chapter 11, a source said. (The Deal Pipeline subscribers can read the full story here.)
- How has the government helped Goldman Sachs Group Inc. (NYSE:GS)? Joe Nocera at The New York Times counts the ways.
- Icahn has bid adieu to Yahoo!. Months after publicly battling management
to sell the company to Microsoft Corp. (NASDAQ:MSFT), billionaire
activist investor Carl Icahn quietly announced his resignation from Yahoo! Inc.'s (NASDAQ:YHOO) board on Friday. The Deal Pipeline (subscription required) has more details on the Microsoft-Yahoo! search deal and earnings.
In economic news: - The Federal Deposit Insurance Corp. closed seven banks Friday night,
bringing the total number of failed banks this year to 106.
- George White and Maria Woehr
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VITAL SIGNS |
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Figures are calculated
according to the latest stock data available at approximately 4:30 pm
ET |
|
October 26, 2009 |
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Benchmark |
Spread |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
LIBOR 1-MONTH |
0.24 |
-0.001 |
0.25 |
0.25 |
3.24 |
|
LIBOR 3-MONTH |
0.28 |
-0.001 |
0.28 |
0.28 |
3.52 |
|
TED |
0.22 |
+0.004 |
0.21 |
0.18 |
3.41 |
|
Exchange |
Average |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
VIX |
24.58 |
+2.31 (+10.37%) |
21.49 |
25.61 |
|
|
T-bond |
Current Price/Yield |
Price/Yield change |
|
3-Year |
99-11 / 1.60 |
-0-03 / .033
|
|
5-Year |
99-12+ / 2.50 |
-0-08+ / .058 |
|
10-Year |
100-16 / 3.56 |
|
|
|
Contributed content from
Middle market video
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Oppenheimer's Heinberg says a CIT Group bankruptcy would impact middle market lending. |
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