you might want to keep up with the news. the merger was annouced nearly 6 months ago. the ratio is .1822 shares of BAC for CFC. it's now just a matter of CFC approving the deal which they have recommended their shareholders to do. http://www.marketwatch.com/News/Sto...4954-8D48-C8DB584C1C37}&siteid=yhoo&dist=yhoo Bank of America to buy Countrywide Financial for $4 billion By Steve Goldstein Last update: 7:10 a.m. EST Jan. 11, 2008 LONDON (MarketWatch) -- Bank of America (BAC:bank of america corporation com CFC 5.44, +0.12, +2.3%) for approximately $4 billion in stock in a deal that will make the Charlotte, N.C. bank the nation's largest mortgage lender and loan servicer. Shareholders of Countrywide would receive 0.1822 of a share of Bank of America stock in exchange for each share of Countrywide. The purchase is expected to close in the third quarter and to be neutral to Bank of America earnings per share in 2008 and lift EPS in 2009, excluding merger and restructuring costs. Bank of America expects $670 million in after-tax cost savings in the transaction, fully realized by 2011.
it's not a cash deal. i don't know why you think it is. i just posted the link to the original story. also BAC never made 2 formal offers. i traded it when the rumor of BAC buying CFC came out. i remember it pretty clearly since i made some money on it
Cosan does boggle the mind. I remember when they were making news because ADM was trying to buy them, and they were able to fight that off. They seem to have a lot in their favor (financials are in order, Sugar prices are rising, ethanol consumption increases every year). Two things that are worrisome: They buy nearly half of their sugarcanes from another company, so rising sugar prices could be a negative. It seems like they are positioning themselves as an ethanol producer rather than a sugar producer and there really isn’t a world market for their ethanol yet. More than 80% of their ethanol is domestically used. This might be a stock to hold on long term though, because of new pressures to eliminate subsidies and other tariffs that are restricting Brazilian ethanol and propping up American corn. I think this may be a long term hold. But that’s only my opinion and nothing more
yeah i have no urge to get out of the stock but i am trying to decide if i should be buying more. i originally knew about it on the ipo and watched it and then i really paid attention to it after i saw 2 big funds basically bought 25% of the outstanding shares. that provided a nice base to get in and i'm still up comfortably in it so i don't mind sitting in it. i also saw that BP was helping Cosan buy up all of Exxon's gas stations in Brasil which i thought was interesting. and thanks for the reaffirming info...i may pick up a little more in this low 11 range.
I like South American stocks. PBR has really helped my portfolio, but I have now sold it as I am concerned about its valuation and I do not know enough about oil currently to know if we have a real supply/demand issue or if we have a bubble. I own two Brazilian stocks. BAK has a good valuation and a good dividend right now. I also owns BOBS (a fast food restaurant chain), which is a pink-sheet stock. It is obviously risky, but I like its long-term potential with the growing middle class in Brazil. South America has lots of potential beyond Brazil. MELI, which is an Argentinian company has incredible potential as the South American e-bay, but it carries a hefty price.
I was just ressurecting this dinosaur to thank you guys for bring up Cosan. Had one hell of a month with it after picking it up for 11 at the beginning of June. Sold about half of my interests there on Monday with the rest of the crowd but still holding onto the rest. With the recent floods of the cornfields could this be blowing up sooner rather than later? Thanks for the advice guys.
I've been investing in silver the past couple of years. I put in my 5% into my 401k so my company will match every dollar 2 to 1. I use the excess of what i used to put in the 401k to buy silver and occasionally gold now. I just keep adding to my stack. It feels like you have more wealth looking at that rather than my vangard website. All precious metals have been doing well. With the US dollar sucking and all the other things going it's something to consider investing in
glad to be of some help. for what it's worth i am looking at buying GM senior debt in my personal account. RGM BGM are a couple of the symbols. still doing research but i think the risk is low enough and the reward is certainly significant.
I got in around the same time but didnt sell in that big sell off...Im thinking longer term...I cant see those tariffs lasting longer than 1 year...I figure this is as low as I can get it at....
i've taken a hit on most of my holdings, but i dont have much invested in right now anyways so i'm not too worried about. i did happen to get in on GNTA while it was at .24 and again at .34 and sold at .65 (hit .72) last week... bought back in at .42, too bad it's down to .35 right now. i have a quick question regarding pre-market activity... early this morning the dow purchase of rohm was announced which shot the stock upward 35% before the market opened. if i had placed a buy order pre-opening but after the pre-market price had aleady jumped up, what price would i be purchasing the stock at? clearly it would've been nice to get in at $44 and sell off at $76, but i know i'm missing something there.
Open is the first price someone buys at, not the closing price for the previos day. I may not be understanding your question.
Wouldn't you need a willing seller at $44 to be able to get that price? <hr> Does anybody have more insight on the future for Marathon (MRO)? I already know about the derivatives issue.
hey rada...if you haven't noticed yet CZZ is almost trading perfectly with sugar prices. i just saw this the other day and figured i'd pass it along.
