Temasek bought $600 million stake to help Merrill in Feb

April 16th, 2008
| More
Temasek, Singapore's sovereign wealth fund, announced that it bought $600 million of Merrill Lynch stocks in February at $48 although the stock has fallen to 11% below its purchase price. The SWF like many others from Asia and the Middle East bought the stocks as a means of injecting capital into the flailing US banking sector. Merrill has written down $24 billion dollars thus far pertaining to the mortgage market which equate to $8 billion in losses.

More Recent Headlines

TCI faces security setback on J-Power

PE Funds Buying Citi Loans on the Cheap

Bill Miller Takes Yahoo's Side Against Microsoft

MMI Pressures Unisys Corp

Icahn Adds Allies to Motorola's Board

Man Group Acquires 50% of credit specialist Ore Hill Partners

Icahn vs. Motorola

Arrow Hedge and Marret Launch Hedge Incubator

Icahn Eyes JC Penney and Motorola

Jeffrey Altman’s Owl Creek Asset Management rakes in over $100 million in Fees