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Its RCCC not RCCH
Rural Cellular Corporation
3905 Dakota Street SW
P.O. Box 2000
Alexandria, MN 56308 USA
(320) 762-2000
Deloitte & Touche LLP
400 One Financial Plaza
120 South Sixth Street
Minneapolis, MN 55402-1844
Richard P. Ekstrand, President & Chief Executive Officer
Ann K. Newhall, Executive Vice President and Chief Operating Officer
Mainuh
Posted by: dustybutler1 Date: Wednesday, October 22, 2008 11:40:27 AM
In reply to: None Post # of 114280
Published: October 22 2008 09:16 | Last updated: October 22 2008 09:16
Depository Trust and Clearing Corporation of the US and Europe’s LCH.Clearnet on Wednesday unveiled a merger that would create the world’s largest clearing house.
Under the transaction, DTCC, the largest US clearer, would acquire all of the shares in LCH.Clearnet, Europe’s largest independent clearing house. LCH.Clearnet shareholders would receive up to €10 a share, which gives the European group an equity value of €739m ($950m).
EDITOR’S CHOICE
Full coverage: Stock exchanges - Sep-24
Special Report: Exchanges and trading - Oct-22
LCH.Clearnet looks at forex markets - Oct-16
Competitive UK stock clearing gets go-ahead - Sep-24
Lehman clean-up passes clearing milestone - Sep-23
Eurex moves into clearing for OTC credit markets - Jul-23
Euroclear, LCH.Clearnet’s largest shareholder, is supporting the deal “in principle”.
DTCC and LCH.Clearnet said the proposed merger would create a “transatlantic clearing house of significant financial strength”, and should generate synergies worth 7-8 per cent of the combined group’s operating costs.
They added that customers – including banks, institutional investors, hedge funds and mutual funds – would benefit because the cost of clearing services would fall.
The range of asset classes covered would include equities, fixed-income instruments, exchange-traded derivatives and commodities, mutual funds, annuities and over-the-counter products such as credit default swaps.
Donald Donahue, DTCC chairman and chief executive, said: “By combining DTCC and LCH.Clearnet’s natural synergies and complementary skills, we expect our customers will not only see significant cost savings in the clearance and settlement of many securities and instruments we already service, but also greater access to a more diverse range of product offerings and support of emerging asset classes.”
Chris Tupker, LCH.Clearnet chairman, said: “The merger of our companies will enable our users to benefit from a broader geographic footprint and a greater range of expertise as well as realising important efficiencies and economies of scale.”
DTCC and LCH.Clearnet said they had signed non-binding merger terms under which DTCC will acquire all of LCH.Clearnet’s shares.
Under the deal, LCH.Clearnet shareholders would receive up to €10 a share in a combination of DTCC voting shares, shares in the vehicle acquiring LCH.Clearnet, and a special dividend from LCH.Clearnet. It implies an equity value for LCH.Clearnet of €739m.
The new DTCC shares issued to LCH.Clearnet shareholders would leave them with a 34 per cent stake in the US clearing house’s enlarged equity.
DTCC and LCH.Clearnet expect to continue negotiations on the proposed merger so that detailed terms can be announced by next March.
LCH.Clearnet is to have “significant” representation, including management, on the DTCC board.
Roger Liddell, LCH.Clearnet’s chief executive, would be chief executive of LCH.Clearnet Holdco, the acquisition vehicle, while Mr Donahue would be chairman.
Dave:
He sounds disappointed.
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Posted by: mennypenny262 Date: Sunday, October 12, 2008 10:27:35 AM
In reply to: hypehunter who wrote msg# 25969 Post # of 25971
hype..I am not an admin anymore! Rats
billiondollarman:
When is soon two or three days or a week?
Stock_*Explorer:
Gene says we are in Great Shape!
When was that comment made?
Our member "mainuh" is not listed on the member list.
What has he done wrong?
Maybe I don't know the alphabet.
ghcnj:
Please continue to post the truth. Need not
worry about the remarks made without truth-
links posted by negatively-challenged members.
Remember there are a lot of quiet members that
appreciate your efforts.
To Anyone:
How do you read the FAIL TO DELIVER with RCCH entered?
http://failstodeliver.com/default.aspx
tia
hypehunter:
What is a FREE FLOAT?
billiondollarman:
What is your guessestimate of the FTD's? tia
hypehunter:
It has been 3 days since the Etrade buy.
My question is which of my shares were a
T#3 or FTD's? I realize they are valid by
the DTTC, but what column are the in.
My second question is how to read the
FTD's chart? (http://failstodeliver.com/default2.aspx)
tia
hypehunter:
Are the shares I purchased through Etrade on
Sept. 30, 2008 FTD's or what?
hypehunter:
How many FTD'S are their now @RCCH?
http://failstodeliver.com/default2.aspx
tia
hypehunter:
Is that 16000@.0003 trade a MM trade?
hypehunter:
Do you have a guessestimate
on the size of the short?
ghcnj or TwinTurbo:
Do you have a guesstimate of the SHORT? tia
The "Fails to Deliver Chart" you referenced
yesterday. I'm not sure how to read the chart.
Have any of them been delivered? tia
Of course,I knew that just wanted to see if the
moderators, also new. ha ha ha
Durkkdiggler:
Is this CFO officeholder also a stockholder?
Is Baida Finance also a stockholder?
Battling_Newt or TwinTurbo:
Is there any connection or link to Baida & RCCH? tia
Is there any connection to RCCH? tia
How high is high?
Where in your opinion is P/P/S high side?
What News?
2late: Thanks a lot.
Art2Gecko
I'll bet those two little devils were trying to spoof us?
Why would you even think the spread, would be that great?
How are the shares accounted for?
Is that what you would call FTD's?
cdnkid10:
Where can one document that statement? "Don't think they can R/S a non trading stock! "
I have no BCIT Proxy, as yet. I have TDA.
2late:
The same 550 million to 700 Million were sold, purchased, sold again and on, on, and on again. So it can't be said that the brokers received a commission only once, can it?
Thank You!!!!!!
'legalegaltx":
"I LIKE INIX!! it is going to be a BIG one,"
When and how big is your guessestimate?
rebelgirl:
Where do you find this news?
Art2Gecko:
What is meant by the following statement?
"BHUB is covering all the ~1.5B shares" ,
Are they eating them or having them sold by
brokers, who initially sold them and kept the
money?
Art2Gecko:
Is this the same type of situation as BCIT?
Wildbill729:
Thanks for your input.
Are you familiar with TA it tanked yesterday.