finanztreff.de, 8 Oct 2008, John Jannarone Of DOW JONES NEWSWIRES
"SINGAPORE (Dow Jones)--Temasek Holdings Pte. Ltd. didn't participate in a $10 billion stock offering by Bank of America Corp. (BAC), allowing a dilution of the stake it will own in the bank after a takeover deal with Merrill Lynch & Co. (MER) is complete."
"Bank of America made an all-stock deal in September to buy Merrill Lynch for $44 billion, valuing the firm at $29 a share and above Temasek's cost of $24 a share.
But Bank of America's shares have since fallen to $23.77 as of Tuesday's close, down from $33.74 before the offer was announced on Sep. 15. That means Temasek will be paid with shares now worth 30% less."
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