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Wednesday, June 28, 2006

New York Times DealBook Summary 6/28/2006

Stocks: (JCG)(GS)(BCS)(WMG)(MT)(MFE)(RMIX)

According to DealBook, shares of J. Crew rose 28% on their first day of trading. Goldman Sachs and Bear Stearns lead the underwriting.

DealBook say that the takeover fight between music companies EMI and Warner Music has resulted in each making and rejecting takeover offers from the other. EMI said that Warner had offered $4.6 billion.

DealBook says that Russian steel company Severstal is planning to make another bid for stell company Arcelor, which is already planning to merge with Mittal. Mittal's $33.5 billion bid for Arcelor has already been accepted.

Hedge fund Third Point has won two board seats at Massey Energy. It lead a proxy fight to get them.

DealBook says that U.S. Concrete has agreed to acquire Alberta Investments and an affiliate Alliance Haulers to expand its business in west Texas. The price was $165 million.

Douglas A. McIntyre
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