Monday, 28 July 2014
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…