Monday, April 25, 2005

Langone plan not likely

The AP reported today that Langone has $200 million with which to buy up as many seats as possible to force changes to the AX merger. Given that a seat sold today fo r$2.4 million, Langone would get a whopping eight seats. The NYSE needs a two-thirds majority vote among seat holders for the merger to go through. Considering that there are a total of 1366 seats his 8 or so seats won't make a difference. Also, Goldman Sachs owns an undisclosed number of seats that would hedge any attempt at thwarting a NYSE/AX deal.


Anonymous Anonymous said...

Your math is incorrect.

5:14 PM  

Post a Comment

<< Home

Free Web Counters