{"id":6629,"date":"2007-10-03T00:00:00","date_gmt":"2007-10-03T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"northern-rock-suitor-jc-flowers-raises-15-billion-report","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2007\/northern-rock-suitor-jc-flowers-raises-15-billion-report.html","title":{"rendered":"Northern Rock suitor JC Flowers raises \u00c2\u00a315 billion: report"},"content":{"rendered":"<p>  CityWire.co.uk- Private equity group JC Flowers has raised \u00c3\u201a\u00c2\u00a315 billion for a possible takeover of Northern Rock after viewing the ailing mortgage bank\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s data room last week, the Financial Times has  reported without naming sources.<\/p>\n<p>  Northern Rock shares jumped 9% to 148p in early trading.<\/p>\n<p>  The hedge fund run by Chris Flowers wants to keep Northern Rock <a href=\"..\/Shares\/ShareFactSheet.aspx?InstrumentID=2375\">(NRK)<\/a> whole and plans to meet with bank officials soon for talks to  begin the due diligence process, the paper reported.<\/p>\n<p>  Several large banks are said to have helped secure the \u00c3\u201a\u00c2\u00a315 billion for JC Flowers, it added.<\/p>\n<p>  Fellow US hedge fund Cerberus is thought to be the only other rescuer in the running for the Newcastle-based bank. It has suffered from the liquidity crunch that spread from the US sub-prime  crisis.<\/p>\n<p><a href=\"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/0-0&amp;fd=R&amp;url=http:\/\/www.citywire.co.uk\/News\/NewsArticle.aspx%3FVersionID%3D97084&amp;cid=1121619129&amp;ei=zEsDR9yCIoeUrgPwuIitAQ\"><strong>ReadComplete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CityWire.co.uk- Private equity group JC Flowers has raised \u00c3\u201a\u00c2\u00a315 billion for a possible takeover of Northern Rock after viewing the ailing mortgage bank\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s data room last week, the Financial Times has reported without naming sources. Northern Rock shares jumped 9% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6629","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6629"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6629\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}