The Daily Chase: Market sentiment sinks; Link calls off Dye & Durham deal
BNN Bloomberg
Other than the U.S. dollar and world bond yields, it’s hard to find anything that’s trading higher this morning. U.S. futures are suggesting it will be another weak open in New York after three straight days of losses.
On that note, there was a smidgeon of encouraging commentary from Costco’s chief financial officer after markets closed yesterday. Speaking on an earnings call with analysts, he said he’s seeing “minor improvement in a few areas … we are seeing just a little light at the end of the tunnel.”
DYE & DURHAM’S LINK TAKEOVER FALLS APART
It almost seemed like the writing was on the wall after a years-old fund collapse came back to haunt the company that Dye & Durham was trying to acquire. And so, early this morning it became official: Link Administration Holdings Ltd. said it was disappointed to announce that the takeover by Dye & Durham won’t be proceeding. No official comment yet from the Toronto-based software consolidator. We’ll seek insight what its next move might be.
