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Before the bell: C, BX, RIO, MOGN

Posted Dec 10th 2007 8:36AM by Barry SummerlinBarry Summerlin RSS Feed
Filed under: Before the bell, Citigroup Inc. (C), Morgan Stanley (MS), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RTP), Blackstone Group L.P (BX)

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Main market news here: Before the bell: UBS announces $10 billion in write-downs

Citigroup (NYSE: C)'s board is meeting early this week and could name former Morgan Stanley (NYSE: MS) executive Vikram Pandit as its next CEO, following Chuck Prince's resignation last month.

Private equity firm Blackstone (NYSE: BX) is expected to join with China's sovereign wealth fund in a bid for mining firm Rio Tinto (NYSE: RIO). Blackstone's bid follows a $140 billion offer from BHP Billiton (NYSE: BHP), which Rio Tinto rejected. If Rio Tinto accepted any bid from Blackstone, the private equity house is expected to divide up Rio Tinto's assets.

In an unprecedentedly large overseas acquisition in Japanese pharma, Eisai Co. of Japan announced a $3.9 billion deal to buy Minnesota drug maker MGI Pharma (NASDAQ: MOGN) to bolster its cancer treatment efforts.

Tags: Blackstone, BX, C, Citigroup, inthenews, MGI Pharma, MgiPharma, MOGN, Morgan Stanley, MorganStanley, MS, RIO, Rio Tinto, RioTinto

Symbol Lookup
IndexesChangePrice
DJIA-14.2810,318.16
NASDAQ-10.782,146.04
S&P 500-3.521,091.38

Last updated: November 22, 2009: 07:37 PM

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