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Etrade only received 11 cents on the dollar!; entered at 2007-12-02 14:03:32

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Posts: 3971
Registered: 2007-08-22 Paradise

Quote:

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.

That ia $2.4 billion IN CASH, NOT $800 million in cash.

2007-12-02 14:03:32