MarketWatch
31 Jul 2008
EW YORK (MarketWatch) -- The latest investment by Singapore sovereign-wealth fund Temasek in Merrill Lynch & Co. could lift its stake to more than 10%, triggering the need for regulatory approval and reigniting debate about foreign ownership of U.S. financial firms.
Earlier this week, Merrill Lynch, the largest U.S. brokerage firm, said that it would issue $8.5 billion in new shares and sell a big chunk of its debt securities at a steep discount. Temasek is already a major shareholder in Merrill after it invested $5 billion (at $48 a share) late last year.
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