Newspaper wrap-up: KKR to make concessions for First Data purchase
Posted Sep 10th 2007 9:14AM by Eric Buscemi
Filed under: Newspapers, Magazines, Walt Disney (DIS), Federal Natl Mtge (FNM), Mattel, Inc (MAT), Dow Jones and Co (DJ), First Data (FDC)
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MAJOR PAPERS:
- In an effort to stem the flow of weaponry into Iraq, the Pentagon is planning to build its first base near the Iraq-Iran border, reported the Wall Street Journal (subscription required).
- Kohlberg Kravis Roberts & Co. is expected to make concessions with the investment banks putting together $24B in debt for its purchase of First Data Corporation (NYSE: FDC), something it had previously been unwilling to do, reported the Wall Street Journal.
- The Bush administration wants to limit the role of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) in the home mortgage crisis, but a number of Democrats, led by New York Senator Schumer, want to increase the authority of both firms by loosening growth constraints, and increase the size of mortgages they can buy in high cost areas, reported the Wall Street Journal.
- While the Nasdaq Stock Market Inc (NASDAQ: NDAQ) said it extended the deadline earlier this week, the "self-imposed deadline" for an LSE bid passed without a single firm bid, reported the Financial Times (subscription required).
OTHER PAPERS:
- The U.K. Times reported that Russian state-controlled energy company Gazprom (OTC: GZPFY) considered making a rival $5B offer for business news company Dow Jones and Company Inc (NYSE: DJ), according to a source.
- The New York Times reported that after three separate recalls of Mattel Inc (NYSE: MAT) toys, Disney (NYSE: DIS) said it would begin testing toys featuring Disney characters, including ones already on store shelves.
Tags: dis, disney, dj, dow jones, DowJones, fannie mae, FannieMae, fdc, financial times, FinancialTimes, first data, FirstData, fnm, fre, freddie mac, FreddieMac, ft, gazprom, gzpfy, kkr, mat, mattel, nasdaq, ndaq, newspaper, ny times, NyTimes, paper, periodical, uk times, UkTimes, wall street journal, WallStreetJournal, wsj
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