(Reuters) - Merrill is delaying selling the assets until it hears the
troubled hedge fund's plan to recapitalize, the network
reported. Merrill and Bear are expected to discuss the plan on
Monday or Tuesday, CNBC said.
The Wall Street Journal reported on Saturday that Merrill,
which is one of the fund's biggest lenders, had seized $400
million of assets from the Bear Stearns High-Grade Structured
Credit Strategies Enhanced Leverage Fund. That fund was down 23
percent through April after suffering losses in investments in
subprime mortgages, or home loans made to people with weak
credit, the newspaper said.
Read more at Reuters.com Mergers News
troubled hedge fund's plan to recapitalize, the network
reported. Merrill and Bear are expected to discuss the plan on
Monday or Tuesday, CNBC said.
The Wall Street Journal reported on Saturday that Merrill,
which is one of the fund's biggest lenders, had seized $400
million of assets from the Bear Stearns High-Grade Structured
Credit Strategies Enhanced Leverage Fund. That fund was down 23
percent through April after suffering losses in investments in
subprime mortgages, or home loans made to people with weak
credit, the newspaper said.
Read more at Reuters.com Mergers News
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