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Texas Financier Stanford Charged With Fraud; Trump Casinos File for Chapter 11; Amex and Capital One Defaults Rise; WalMart Beats Expectations; Blackberry Execs Pay Back $2.2 Million; Oil Prices Fall Below $35
- The Securities and Exchange Commission yesterday (Tuesday) charged Texas financier R. Allen Stanford and three of his firms with a “massive” fraud that centered around high-interest-rate certificates of deposit, and raided some of the companies’ offices, MSNBC reported. In a complaint filed in federal court in Dallas, the Securities and Exchange Commission alleged Stanford conducted a fraudulent investment scheme in an $8 billion CD program that promised “improbable and…
Halliburton Trumps Other Suitor by Offering $3.4 Billion for Deep-Sea-Oil Expert
Halliburton Company (HAL), the world’s second-largest oil-services firm, has made a $3.4 billion (1.71 billion pounds) cash offer for U.K.-based Expro International Group PLC (PINK: EXPRF).
The bid – announced today (Friday) – could touch off a bidding battle for the British oil-services firm, which already has another suitor.
The Halliburton bid represents a 6.2% premium over the $3.2 billion bid of a private-equity consortium that includes Candover Partners Ltd., a wholly owned subsidiary of Candover Investments PLC, and Goldman Sachs Group Inc. (GS).
“This is not over as I think Candover will come back with another bid,” Jane Coffey, head of equities at…
24May2008 | Money Morning | 2 comments | Continued
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