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Dynegy Just Got Pricier - Analyst Blog
Wednesday, November 17, 2010 - 10:00am | 607Houston-based merchant generator, Dynegy Inc. (DYN) just got dearer for Private Equity firm The Blackstone Group (BX), its suitor. Faced with a lukewarm response from shareholders for the deal, Blackstone on Tuesday raised its bid for Dynegy by 11% to $5 per share from the earlier bid of $4.50...
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Dynegy and Blackstone Agree on Increased Merger Consideration of $5 per Share
Wednesday, November 17, 2010 - 9:02am | 179Dynegy Inc. (NYSE: DYN) today announced that its Board of Directors has approved an amendment to the previously announced merger agreement, dated as of August 13, 2010, providing for the acquisition of the company by Denali Parent Inc., an affiliate of The Blackstone Group (NYSE: BX). Under the...
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Benzinga's Top Upgrades (ZION, CSX, BLK, GTLS)
Wednesday, November 17, 2010 - 8:59am | 146Zions Bancorporation (NASDAQ: ZION) was upgraded by Credit Suisse from "underperform" to "neutral." ZION's shares closed at $20.97 yesterday. Shares of Zions Bancorporation have surged 63.70% year-to-date. Goldman Sachs upgrade CSX Corporation (NYSE: CSX) from "sell" to "neutral." CSX's shares...
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Dynegy Up 8% (DYN)
Tuesday, November 16, 2010 - 4:24pm | 86Dynegy Inc. (NYSE: DYN) is up more than 8% today after news came out that Blackstone (NYSE: BX) was going to increase its offer to $5 per share, an increase of 11%. Shares of DYN continue to trade over the offer from Blackstone though, with the last trade at $5.03 per share. This indicates that...
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Blackstone Sells Remaining Stake in Cineworld
Tuesday, November 16, 2010 - 1:26pm | 35The Blackstone Group (NYSE: BX) today announced that it has sold its entire shareholding of approximately 20% in Cineworld Group PLC at a price of 205p per share.
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Ticonderoga Downgrades (ART, EV)
Tuesday, November 16, 2010 - 11:06am | 44Ticonderoga downgrades the following companies: Eaton Vance (NYSE: EV) from Neutral to Sell; price target $25 Artio Global Investors (NYSE: ART) from Neutral to Sell; price target from $22 to $11.50
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Penson Australia Expands into Execution Services, Asia
Tuesday, November 16, 2010 - 9:26am | 67Penson Worldwide, Inc. (NASDAQ: PNSN) announced today that its Australian clearing subsidiary, Penson Financial Services Australia Pty Ltd, has broadened its offering to provide execution services, in addition to clearing, settlement and custody, to ASX Market Participants and holders of Australian...
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American Capital To Reduce Debt - Analyst Blog
Monday, November 15, 2010 - 7:33pm | 534In an effort to reduce its outstanding debt balances, American Capital Ltd. (ACAS) intends to prepay its debt in late November. In this connection, the company has issued a notice to the holders of its secured debt due in 2013 that it would prepay $107 million of the debt on November 29, 2010 on...
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Blackrock Inc. Director Buys 25,000 Shares of BLK
Monday, November 15, 2010 - 5:48pm | 50In a Form 4 filed earlier today, Blackrock Inc. (NYSE: BLK) Director, James Grosfeld, reported that he bought 25,000 shares of BLK on November 11th for an average price of $167.84. The transaction totaled $4,196,048. Mr. Grosfeld owns 127,274 direct shares of BLK. Source: The Washington Service
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BlackRock Completes Secondary Offering of 58.7M Shares
Monday, November 15, 2010 - 5:47pm | 58BlackRock, Inc. (NYSE: BLK) today announced that it has completed the secondary offering of 58,737,122 shares of its common stock at a price per share of $163.00. The total offering included 51,237,122 shares of its common stock offered by Bank of America Corporation and 7,500,000 shares offered...
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Bookkeeping: Weekly Changes to Fund Positions Year 4, Week 15
Monday, November 15, 2010 - 10:34am | 1959Year 4, Week 15 Major Position Changes To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash: 60.8% (v 60.9% last week) 22 long bias: 38.4% (v 38.3% last week) 3 short bias: 0.8% (v 0.7% last week) 25 positions (vs 25 last week)...
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KBW Raises Eaton Vance Estimates; PT Goes To
Monday, November 15, 2010 - 10:21am | 70Keefe, Bruyette & Woods has raised its Eaton Vance Corporation (NYSE: EV) 2011E to $1.80 to reflect strong equity and fixed income returns in fiscal 4Q. KBW raised Eaton Vance's price target to $34.00. “We expect that net inflows remained solidly positive at around $3.6bn driven by fixed income...
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BAC Unlikely To Issue Material Equity Through Issuance To Employees, J.P. Morgan Reports
Monday, November 15, 2010 - 9:06am | 137This morning, J.P. Morgan said that, based on a conversation with Bank of America Corporation (NYSE: BAC), the company “should likely not need to issue any material amount of common equity through issuance to employees to meet $1.1 bil remaining asset sale requirement due to equity benefits from...
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Citi Affirms Sell On Eaton Vance (EV)
Monday, November 15, 2010 - 8:01am | 151Citi Investment Research is affirming its Sell rating and $25 price target on shares of Eaton Vance Corp. (NYSE: EV). In a research report sent to clients, Citi writes, "On the one hand, organic growth trends remain a bit better than expected. On the other hand: 1) pace of organic growth is...
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Mizuho Buying Stake In Blackrock (BLK)
Friday, November 12, 2010 - 4:50pm | 81Japan's second largest broker, Mizuho Financial, is buying a 1.6% stake in Blackrock (NYSE: BLK) for $500 million from Bank of America (NYSE: BAC), as it seeks to have a larger presence in asset-management. Shares of Blackrock are up 13 cents with around 10 minutes left to the trading session, to...