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Bloomberg Datapoint of the Day
by Felix Salmon
Jul 17, 2008
Jul 17, 2008
Back in 1985, investment-banking powerhouse Merrill Lynch bought a 30% stake in Bloomberg LP for $30 million. A few years later, Bloomberg bought back a 10% stake for $200 million, leaving Merrill with 20% -- which it's now selling, again to Bloomberg, for $4.5 billion.
...Because of its financial duress, Merrill sold its stake at a discount, these people said. John A. Thain, Merrill's chief executive, valued the Bloomberg stake at $5 billion to $6 billion when he spoke at a conference last month.
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