New York-listed GLG Partners has reported a GAAP net loss for
the second quarter ended June 30 of $74.6 million. The non-GAAP
adjusted net loss was $3 million - reflecting some $12 million
of expenses relating to the proposed $1.6 billion merger with
the London-listed Man Group.
The second quarter loss takes GLG's first-half GAAP net loss
for the year to $135.4 million - compared with a loss of $144.6
million in the first half of 2009 - and a non-GAAP net loss of
$6.1 million for H1 2010 (compared with a profit of $90.6
million in H1 2009, which was boosted by an $85 million gain
resulting from the retirement of debt)....