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Thursday, June 15, 2006

New York Times DealBook Digest 6/15/2006

Stocks: (PVH)(WRNC)(V)(INTL)(HBC)(TWPG)(GHL)(JEF)

According to New York Times DealBook, Phillips-Van Heusen may be considering a takeover bid for Warnaco.

DealBook also reports that the head of global research at HSBC has said to his analysts that most do not deserve to be paid because their reports are "worthless flashnotes".

DealBook writes that Vivendi's plans to buy French phonebook company PagesJaunes has drawn fire from Sebastian Holdings, which owns a stack in Vivendi and has been pressuring to company to break itself up.

DealBook also reports that the founder of Inter-tel is offering to take the company private. His offer is 14% above the June 24 closing price of $20.03. Vector Capital is his partner in the buy-out plan.

DealBook also writes that poor market conditions have hurt the stock prices of investment banks. Shares of Thomas Weisel, Greenhill, and Jefferies are all down over 25% in since May 10. The drop also hurts the chances for an IPO of Cowen, which the firm has planned.

Douglas A. McIntyre
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