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Newspaper wrap-up: American Capital Strategies tied to Baxter's Heparin generic problems

MAJOR PAPERS:
  • The Wall Street Journal reported that the focus of reports of four deaths and 350 allergic reactions to Baxter International Inc's (NYSE: BAX) generic version of the blood thinner drug Heparin, and the ingredients supplied by a Chinese manufacturer, also includes Wisconsin-based Scientific Protein Laboratories, a co-owner of the Chinese manufacturing plant, and majority owned by American Capital Strategies Ltd (NASDAQ: ACAS), a Maryland buyout firm.
  • Citigroup Incorporated (NYSE: C) has suspended investors at its CSO Partners hedge fund from withdrawing their money after they attempted to pull more than 30% of the fund's nearly $500M in assets, the Wall Street Journal reported.
  • AT&T Inc (NYSE: T) is seeking more revenue from India as it tries to expand its consumer mobile phone operations outside the U.S, the Financial Times reported.
OTHER PAPERS:
  • According to the New York Times, the FDA broke its own rules by approving for sale Baxter International's Heparin without first inspecting a Chinese plant where the drug's key ingredient is made.

IPO & secondary preview -- Week of June 18, 2007

Wall Street's equity market offers a modest plate this week, with three IPOs and four Secondaries on the docket.

Those deals tentatively scheduled to price include:

IPOs:

Tuesday

  • Aldabra 2 Acquisition (ALL.U), a 30M-share IPO for this business finance company. Lazard is the lead manager. Filing price: $10.00
  • Sterlite Industries (SLT), a 125M-share IPO for this India-based metals company. Merrill Lynch, Morgan Stanley and Citigroup are the lead managers. Filing price: $13.85.

Thursday

  • Care Investment Trust (CRE), an 18.75M-share IPO for this business finance company. Credit Suisse and Merrill Lynch are the lead managers. Filing range: $15.00-$17.00.

Continue reading IPO & secondary preview -- Week of June 18, 2007

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 27, 2009: 04:58 AM

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