Bloomberg.com
29 Jul 2008
July 29 (Bloomberg) -- Temasek Holdings Pte., the biggest shareholder of Merrill Lynch & Co., agreed to invest a further $900 million in the securities firm after getting compensated for its initial investment in December.
The Singapore state-owned investment company will use a $2.5 billion so-called reset payment for losses from its earlier purchase toward buying $3.4 billion of Merrill stock, it said in a statement today. Merrill said it will book the reset as an expense, as well as $5.7 billion of additional writedowns.
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