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| Fifth Column |
| More Schadenfreude: Morgan Stanley Sells Entire NYT Stake |
| 2007-10-17 |
| Morgan Stanley, the second-biggest shareholder in New York Times Co., sold its entire stake today, according to a person briefed on the transaction, sending the stock to its lowest in more than 10 years. The person declined to be identified because Morgan Stanley hasn't made the sale public yet. Traders with knowledge of the transaction said Merrill Lynch & Co. sold New York Times stock worth $183 million in a block trade. |
| Posted by:trailing wife |
| #8 CHIN MIL FORUM > UNCONFIRMED > Poster claims to had heard news BOMBAY [India] STOCK MARKET HAD JUST CRASHED TODAY. Initially lost over 50 % of value but may have begun a recovery of yet undetermined scale. See also TOPIX > THE BATTLE OVER CURRENCIES. |
| Posted by: JosephMendiola 2007-10-17 22:46 |
| #7 Apparently they sold to Merrill Lynch who will remarket. Could be at a substantial discount to market and may be held to speculate on going private or to sell to NYT direct if not to public in smaller lots (though this is hard to imagine). The test will be tomorrow when other institutional holders start to unwind their positions. |
| Posted by: Nimble Spemble 2007-10-17 20:48 |
| #6 Block trade, huh. Family sponging up the stock? |
| Posted by: lotp 2007-10-17 20:43 |
| #5 You should really enjoy tomorrow. NYT going private in 5...4...3... |
| Posted by: Nimble Spemble 2007-10-17 20:32 |
| #4 The Dowd Curve |
| Posted by: macofromoc 2007-10-17 20:26 |
| #3 |
| Posted by: DMFD 2007-10-17 19:05 |
| #2 Got to find the fool*, there's a lot of subprime loan corporate fronts that need a buyer too. *A fool and his money are soon parted. |
| Posted by: Procopius2k 2007-10-17 16:12 |
| #1 New York Times shares slid 54 cents, or 2.9 percent, to $18.37 at 2:51 p.m. in New York Stock Exchange composite trading and fell as low as $18.24, a level not seen since January 1997. heh |
| Posted by: Frank G 2007-10-17 15:09 |