The News Review:
- Elliott Management Backs Revised GM ffer To Bondholders
- BRKER’S WRLD: Citi-MS Brokers See Last Day As Separate Shops
- Extra Space Management settles EEC complaint
Elliott Management Backs Revised GM ffer To Bondholders
CNNMoney.com
(GM) bondholders amid a broader push to winbacking from large institutions ahead of a Saturday deadline. The $13 billion distressed debt specialist is not a member of the ad hoc groupof GM debtholders who reversed prior opposition and pledged their estimated 20%of outstanding notes in favor of a deal. The ad hoc committee has been canvassing other large creditors rather thanGM’s large retail creditor base according to a person familiar with theprocess. “Based on all the facts and circumstances Elliott Management has chosen tosupport the current GM proposal to bondholders” an Elliott spokesperson saidwhen contacted about their intentions.
Related from Liabilitymanagementsystems: PLD International Finance LLC Announces Cash Tender ffer to …
BRKER’S WRLD: Citi-MS Brokers See Last Day As Separate Shops
Wall Street Journal
Although they are ordering new business cards and will answer the phone with a different company name the brokers won’t see any major changes for a while. “Right now we are all holding hands and singing ‘Kumbaya’” said a 15-year Smith Barney veteran. However since there are branches in the same cities most brokers.
Extra Space Management settles EEC complaint
Bizjournals.com
The Gaithersburg-based company had been accused of wrongfully firing an employee because of a disability. It admits no wrongdoing in the settlement. Extra Space Management a subsidiary of self-storage company.