December 24, 2007

Merrill shores up capital by as much as $7.5 bln (Reuters)

A Merrill Lynch office building is seen in Great Neck, New York, October 30, 2007. Merrill Lynch  and  Co Inc said on Monday it would boost its capital by selling up to $6.2 billion worth of discounted new stock to Singapore's Temasek Holdings and Davis Selected Advisers. (Shannon Stapleton/Reuters)Reuters – Merrill Lynch & Co Inc shored
up its capital base by as much as $7.5 billion after selling a
stake to Singapore’s government and an asset manager, and
unloading much of a lending business, as it wrestles with huge
subprime mortgage losses.

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