LDK Solar Co., Ltd. (NYSE: LDK) rallied more than 7% after the company announced that it has entered into a strategic financing agreement with China Development Bank Corporation (CDB), a joint stock banking corporation wholly owned by the state of China. Under terms of the agreement, CDB will provide up to RMB 60 Billion (or approximately US$8.9 Billion) of credit facilities to LDK Solar over a five-year period. The financings will support LDK Solar's long-term growth initiatives and corporate development plans. Terms of the individual credit facilities and lending agreements will be subject to CDB's internal risk management requirements and operational regulations.
Harvest Natural Resources, Inc. (NYSE: HNR) surged more than 15% after it announced that it has retained BofA Merrill Lynch to provide advisory services to assist the Company in exploring a broad range of strategic alternatives for enhancing shareholder value. These alternatives could include, but are not limited to, certain extraordinary transactions, including, possibly, a sale of assets or a sale or merger of the company.
Talks between Spain's Banco Santander SA and M&T Bank Corp. (NYSE: MTB) of Buffalo, N.Y., have stalled again in recent days, people familiar with the matter said, adding that they were now pessimistic about a deal being completed. Shares of M&T Bank fell more than 5% in early trading on Monday.
Full Disclosure: None.
Harvest Natural Resources, Inc. (NYSE: HNR) surged more than 15% after it announced that it has retained BofA Merrill Lynch to provide advisory services to assist the Company in exploring a broad range of strategic alternatives for enhancing shareholder value. These alternatives could include, but are not limited to, certain extraordinary transactions, including, possibly, a sale of assets or a sale or merger of the company.
Talks between Spain's Banco Santander SA and M&T Bank Corp. (NYSE: MTB) of Buffalo, N.Y., have stalled again in recent days, people familiar with the matter said, adding that they were now pessimistic about a deal being completed. Shares of M&T Bank fell more than 5% in early trading on Monday.
Full Disclosure: None.
