Entries tagged "capital infusion"
Worried that participation in the federal government's capitalization program will unfairly label them as financial shaky, the American Bankers Association sent a letter to Treasury Secretary Henry Paulson asking him to clarify that accepting investment from Washington is not "asking for a handout." ABA also called on Paulson to spell out what new regulations would apply to banks that participate....
You've got to believe that when John Thain started putting together his most recent attempt to clear the decks at Merrill Lynch & Co., he wasn't thinking that he'd have to announce it right after the Dow thudded 200 points. But that's what happened, which tells you a couple of things: You can't time these deals, and Thain's luck has been generally lousy. That said, another big write-down, the sale of $30 billion in CDOs to Lone Star Funds and a public offering may be what the doctor finally ordered for Merrill. Or not. We'll see. ...
Banco Santander SA has a major presence in Europe and Latin America, but when it comes to the U.S its only beachhead in the country is its minority holding in Sovereign Bancorp. So, when the second-largest savings and loan pronounced a potential crisis, its Madrid-based parent along with other investors are reportedly making plans to send help in the form of a $2 billion capital infusion....
Turns out that TPG Capital's meeting with Merrill Lynch & Co. was much ado about nothing. The Financial Times reports that Merrill's executives met on Monday with TPG to discuss the possibility of the Texas private equity firm taking an equity stake in the New York investment bank. While confirming that the meeting took place, a source says that Merrill declined the offer because the bank "didn't need the money." ...
TPG Capital and Merrill Lynch & Co. may once again be exploring closer ties, including the Texas private equity firm taking an equity stake in the New York investment bank. (Please see follow up post: "Merrill to TPG: Keep your cash.")...
