Mac has $3 billion in excess capital for strategic purposes.
Your time is coming shorters.
from an article by adele ferguson....
The latest results from the US and UK show many of the big investment banks have big problems. For instance, global giants such as Citi, Merrill Lynch and UBS have suffered big losses and writedowns resulting from their exposure to sub-prime.
In sharp contrast, Macquarie and Babcock & Brown have released strong earnings, which they expect to continue when they release their latest results. Moreover, their balance sheets appear strong.
In the past few months Macquarie has successfully restructured into a bank and non-bank; its capital position is the strongest it has been in four years and in its presentation last week revealed it has $3 billion in excess capital for strategic purposes.
Indeed, it has bought boutique investment banks in the US and Canada, which will help it to better identify opportunities. Any shakeout will provide opportunities for Macquarie and Babcock & Brown and almost any item is possible on the shopping list.
MQG Price at posting:
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