Wednesday, 20 August 2014
Last updated 5 min 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note