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SCI yanks buyout offer for Stewart Enterprises (STEI)

Baltimore (TFN): Was it that Stewart Enterprises, Inc. (NASDAQ:STEI) was too unreasonable in insisting that Service Corporation International (NYSE:SCI) accept all financing risk in the transaction, as SCI claims? Or was it the declining state of the credit market, as Stewart claims? In any case, SCI has withdrawn its buyout offer of $11 per share. The news [...]

Xstrata (XTA) and Lonmin (LMI): The buyout isn’t dead

Xstrata (XTA) has dropped its $10 billion hostile takeover offer for Lonmin (LMI), or has it? Xstrata’s new investment could be a step toward a cheaper buyout attempt six months from now. by Stephanie Grimmett Baltimore — (TFN):  Just as predicted, Xstrata (London:XTA) walked away from its hostile bid to buyout Lonmin (London:LMI) today. But [...]

Brasil Telecom (BTM): Up 7% or down 4%?

Brasil Telecom (BTM) was the victim of a market dive yesterday, but it’s not a buy signal for the stock. And if Tele Norte Leste Participacoes (TNE) gets regulators on its side, BTM won’t be around much longer. Stephanie Grimmett Baltimore — (TFN):  Brasil Telecom (NYSE:BTM) is either up 7% or down 4%, depending on how [...]

Big Movers: Keep your eye on Wachovia (WB), Wells Fargo (WFC) and Citi (C)

Wall Street continues to wait on Washington. There are big movers all across the Street. Watch for the bidding war for Wachovia (NYSE:WB) between Wells Fargo (NYSE:WFC) and Citi (NYSE:C) to create frenzied action. By Andrew Snyder Baltimore – (TFN): It is tempting to think what this bailout mess would look like if we were not [...]

Business Financial News: Yahoo! buyout — let the bidding war begin!

“Not only does it not make sense for Yahoo! and its corporate strategy, but its shareholders will never go for it. You see, institutional shareholders comprise nearly 75% of Yahoo!’s roster. ” – Andrew Snyder By Andrew Snyder Baltimore (TFN) — It is no wonder Rupert Murdoch is one of my fondest heroes. [...]

The TFN 60-Second Buzz

Baltimore — (TFN): As business opportunities expand across the global network, nations in the Middle East and Asia are beginning to leverage their overflowing foreign currency reserves. Not even the orotectionist policies proposed by our elected officials can change that. Stephen Oakes explains what is about to happen. Click here to view the Buzz. ***Make [...]

Commodities Supercycle: BHP, Rio Tinto Merger… Maybe.

"BHP claims Rio will get back that lost value in cost savings and the reduction of competition after the merger. But Rio Tinto counters that BHP is just being cheap and possibly overvaluing its own power in the market." — Stephanie Grimmett by Stephanie Grimmett  Baltimore – (TFN) Rio Tinto (RTP: NYSE) is getting annoyed with [...]

Military Technology: Take Profits on United Industrial

“J. Christoph Amberger recommended United Industrial in his Taipan newsletter a little more than a year ago. And since that initial buy recommendation, we’ve racked up 90% gains in the position.” — Stephanie Grimmett Baltimore – (TFN) United Industrial (UIC: NYSE) is doing something rather odd. The unmanned aviation company agreed to a buyout from aircraft [...]

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