Wednesday, 27 May 2015
Last updated 1 hour ago
Apr 27 2011 | 12:02pm ET
Citadel Investment Group will continue its sell-off of its once-massive stake in online brokerage E*Trade Financial this month. The hedge fund plans to sell 27.5 million shares, reducing its stake to just under 10%.
Citadel twice bailed out the troubled brokerage, building up its stake in the form of convertible debt. This month's sale will be the third for Citadel in the past 13 months; all told, it will have sold nearly 230 million E*Trade shares since last April, the lion's share of E*Trade's total shares outstanding.
Morgan Stanley is leading the secondary offering, Citadel's second of E*trade shares this year. The deal is expected to close on Friday.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…