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| User Info | Etrade only received 11 cents on the dollar!; entered at 2007-12-01 18:47:44 | |||
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Rmonical Posts: 2774 Registered: 2007-07-04 Glendale AZ 
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Apparently Bhatia screwed the analysis up "Under the terms of the Citadel transaction, E*TRADE will receive $2.5 billion in cash, of which $2.4 billion will fund today. The terms include: -- E*TRADE will receive $1.6 billion of capital in exchange for 12.5% senior unsecured notes and common stock. This includes a contribution of capital by investment funds managed by BlackRock, Inc. -- Citadel has acquired E*TRADE's entire ABS portfolio, including CDOs, for $800 million in cash. -- Upon final closing, it is expected that Citadel will invest an additional $150 million in exchange for 12.5% senior unsecured notes and common stock." The Citi analyst is wrong. Link to press release: https://investor.etrade.com/ relea...eleaseID=279066 2007-12-01 18:47:44
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