Roundup: BearingPoint, CapitalSource, Carlyle

From staff and wire reports

*BearingPoint, the McLean management and technology consulting firm, lost a fifth of its stock value after triggering a New York Stock Exchange rule that halts trading in a stock after it moves below a certain price. The exchange rule kicked in Wednesday when BearingPoint's share price passed below $1.05.

Although no longer traded of the floor of the NYSE, investors can still trade the stock on electronic exchanges. BearingPoint fell 21 cents, to 83 cents a share. The company has lost 90 percent of its value over the past year as it has tried to wrap up years of accounting reviews.

*Commercial lender CapitalSource said it will sell 30 million shares and is "well positioned to seize opportunities." After receiving Federal Deposit Insurance Corp. approval to buy Fremont General's retail bank, the Chevy Chase-based company can take advantage of "current favorable market conditions," chief executive John K. Delaney said in a statement.

The CapitalSource share sale is valued at about $440 million.

*Gannett acquired a minority stake in Cozi Group, the operator of a social-networking Web site aimed at families. Cozi will be integrated into the Web sites of McLean-based Gannett's 85 newspapers, including USA Today, and its 23 television stations. Financial terms weren't disclosed.

*Carlyle Group of the District and Providence Equity Partners said they are considering a takeover bid for Informa, the publisher of Lloyd's List maritime newspaper. The two private-equity groups said they approached Informa's board with a cash proposal. They did not disclose the terms.

Separately, the Mall Fund, managed by Capital & Regional and Aviva's Morley Fund Management, agreed to sell three British shopping centers to the Carlyle Group for $564 million to reduce its debt. The sale of the three properties should be completed next month, Morley said in a statement.

By Terri Rupar  |  June 19, 2008; 6:14 PM ET  | Category:  Roundup
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