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Article: Faint Trace of Buyout Blood Sparks Feeding Frenzy in Bankers Trust Stock.(Bankers Trust New York Corp.'s stock value increases following report of possible merger with Travelers Group Inc.)
- Article from:
- American Banker
- Article date:
- September 19, 1997
- Author:
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In today's merger-manic market, even the hint of a deal is enough to trigger a full-blown buying frenzy.
Shares of Bankers Trust New York Corp. rocketed $14, to $133.62, a gain of 12%, after a report Thursday morning that the company might be in takeover talks with Travelers Group Inc., the insurance company and parent of Smith Barney.
Bankers Trust, breaking from its policy of not commenting on market rumors, flatly denied it was in talks with anyone.
The immediate source of the price surge appeared to be a report on CNBC, the cable television channel. A news reader said that UBS Securities bank analyst Thomas H. Hanley is "indicating that his sources ...