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Welcome to the Equities Section of Options Realm |
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. Today Sunday April 2nd the main stories on the Street were all of the take over bids that where accepted. We will start with the 8.2billion dollar takeover of TRB. The second take over that occurred today was the 27 billion dollar buyout of First Data Corp by the private equity firm Kohlberg Kravis Roberts & Co. First Data Corp’s board has approved the offer from KKR and it will now go before the share holders to vote on the deal and for the deal to get the regulators approval. First Data Corp executives expect the deal to be completed by the end of the third quarter. Another main topic on in the financial world today was that New Century Financial Corp has filed chapter 11 bankruptcy. This has come after weeks of speculation that the company would file bankruptcy after the company fell victim of a raise in mortgage defaults. In order to get the company back on track 3,200 workers were fired which represents about half of their workforce. The company is also in the process of selling off it assets. On the oil front we saw oil trade up on the beginning of the day with news of an American citizen disappearing in Iran. This news does not the situation with the tension already existing between Iran and the west. As the day proceeded forward way saw oil come down off of the daily highs. Oil closed up on the day. As we look towards tomorrow we will be looking for a relatively slow day because of the Passover Holiday and with Easter upcoming on the weekend. All of our weekly News Updates Here |
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