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Friday, June 30, 2006

New York Times DealBook Summary 6/30/2006

Stocks: (BA)(EMC)(RSAS)(PD)(FAL)(N)(CD)(VE)(SYMC)

NY Times DealBook reports that Boeing spin-off aircraft parts company Spirit AeroSystems has filed for an IPO. The company plans to raise about $500 million.

DealBook reports that shares in storage company EMC fell to a 52-week low on news it was buying RSA Security for $2.1 billion. There may have been a rival suitor. According to BusinessWeek, it was online security company Symantec.

According to DealBook, several institutional investors have said they do not support Phelps Dodge's purchase of Falconbridge and Inco. Atticus, a hedge fund that owns 6% of the company has voiced its doubts as has Neuberger Berman.

DealBook reports that Cendant has sold its travel services business, TravelPort, to the Blackstone Group for $4.3 billion.

Bidz.com, the online jewelry business, has cut back its IPO, dropping the number of shares for sale by half to 3 million.

DealBook say that French company, Veolia, the world's largest water company, has bought Brambles Industries, a trash collection firm, for $1.1 billion.

Douglas A. McIntyre
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