Calm Shortlived - Northern Rock Battered

But the sting in this tale was the numbers attached. Lloyds TSB was rumoured to have attached a £2 price tag to their interest - while HBOS came in at £1. So buyers are looking for a hefty discount to book value, around 379p a share in June according to Credit Suisse, to take the Wreck off investors’ hands. But amid the carnage, someone was buying - and with that support the stock battled back to 275p. Deutsche Bank on Wednesday morning revealed a 3.6 per cent stake in Northern Rock. http://ftalphaville.ft.com/blog/2007/09/19/7432/calm-shortlived-northern-rock-battered/?source=rss

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