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10/11/11Hedge Fund Lansdowne Partners Increase Prudential Plc Short (market folly)

Paul Ruddock and Steven Heinz's UK-based equity long/short hedge fund Lansdowne Partners has increased its short position in London listed financial services group Prudential plc (LON: PRU). According to a filing made on October 6th, Lansdowne now hold a short position equivalent to -1.6% of Prudential's outstanding shares. The hedge fund has actually held a short in this company since 2009. In February 2009, their short represented -0.45% of outstanding shares and that position was...

10/11/10Benzinga's Top Downgrades (FO, PUK, GLDD, COST) (Benzinga)

Fortune Brands Inc (NYSE: FO) was downgraded by Robert W Baird from "outperform" to "neutral." FO's shares closed at $55.85 on Friday. Fortune Brands Inc's 52-week trading range is $36.90-$59.40. JP Morgan downgraded Prudential Public Limited Company (NYSE: PUK) from "neutral" to "underweight." PUK's stock closed at $20.32 on Friday. The 52-week trading range of Prudential is $13.74-$21.11. BB&T Capital downgraded Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) from "buy" to "hold."...

5/23/10(AIG) Prudential PLC Declares Rights Issue to Purchase Unit From American International Group (Stock Blog Hub)

In order to partly finance its $35.5 billion deal to purchase the Asian life-insurance business AIA Group from American International Group Inc. (AIG), Prudential PLC (PUK) finally announced the details of its previously announced rights issue to raise $20.9 billion (£14.5 billion). At an issue price of $1.51 (104 pence) each, PUK will offer its shareholders [...]

3/4/10(PUK) Fitch Ratings Cautious on Prudential Plc (Stock Blog Hub)

Following the announcement by Prudential Plc (PUK) to purchase Asian life-insurance unit American International Assurance (AIA) from American International Group Inc. (AIG), Fitch Ratings has become cautious with regard to execution risks that the deal may bring along. The value of the deal, estimated at approximately $35 billion, is greater than the company’s market value, which [...]

3/3/10Why the Prudential-AIG Deal Contradicts Capitalism (Gold Stocks Today)

Martin Hutchinson writes: To inattentive observers, the recent announcement that the British insurance company Prudential PLC (NYSE ADR: PUK) would pay $35.5 billion for American International Group Inc.'s (NYSE: AIG) Asian insurance operation, AIA, might seem like just another belated expansion of the old British Empire - a strange contrast to the sale of the premier British chocolate company Cadbury PLC (NYSE ADR: CBY) to Kraft Foods Inc. (NYSE: KFT) last month.

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