Temasek bought $600 million stake to help Merrill in Feb
| April 16th, 2008 | ||
| Temasek, Singapore's sovereign wealth fund, announced that it bought $600 million of Merrill Lynch stocks in February at $48 although the stock has fallen to 11% below its purchase price. The SWF like many others from Asia and the Middle East bought the stocks as a means of injecting capital into the flailing US banking sector. Merrill has written down $24 billion dollars thus far pertaining to the mortgage market which equate to $8 billion in losses. | ||
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