Newspaper wrap-up: Talks between Delta and Northwest hit an impasse
Posted Feb 27th 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Delta Air Lines (DAL)
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MAJOR PAPERS:
- A memo sent by Delta Air Lines Inc (NYSE: DAL) to the company's employees regarding Delta's merger talks with Northwest Airlines Corporation (NYSE: NWA) stated that that no "potential transaction meets all [of Delta's] principles." The memo, the Wall Street Journal reported, is seen as a sign that merger talks between Delta and Northwest have stalled.
- A group of 14 hospitals and the Securities Industry and Financial Markets Association, a Wall Street trade group, asked the SEC to buy back the debt they had issued, the Wall Street Journal also reported.
- German lender HSH Nordbank has filed a lawsuit against UBS AG (NYSE: UBS) for allegedly maneuvering to saddle the German bank with troubled securities. HSH Nordbank contends that UBS sold it $500M in complex investments, which a UBS hedge fund later used as a receptacle for troubled subprime-mortgage securities, according to the Wall Street Journal.
WEB SITES:
- According to FAO Newsroom, world fertilizer production is expected to outstrip demand over the next five years and will support higher levels of food and biofuel production.
Tags: biofuel, brokerages, DAL, Delta, Delta Air Lines, DeltaAirLines, fertilizer, merger, Nordbank, Northwest, Northwest Airlines, NorthwestAirlines, NWA, SEC, subprime, UBS, UBS AG, UbsAg
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