Business news for Mon, 31 Dec 2007 & with words report+sale. 3 news.

Reuters - Merrill Lynch & Co is in talks with Chinese and Middle Eastern sovereign wealth funds that could lead to the sale of another big stake in the U.S. bank, British newspaper The Observer reported, citing sources in London and New York.

NEW YORK (Reuters) - Merrill Lynch & Co is in talks with Chinese and Middle Eastern sovereign wealth funds that could lead to the sale of another big stake in the U.S. bank, British newspaper The Observer reported, citing sources in London and New York.

NEW YORK (MarketWatch) -- Penn Treaty American Corp. said Monday that it has retained Friedman, Billings, Ramsey & Co. to assist its board in reviewing strategic alternatives, which could include partnerships or the sale of certain assets. Based on a preliminary report by its actuarial consultants, the Allentown, Pa., insurance company believes that it will have to increase claim reserves and that there may be offsetting or partially offsetting reductions in active life reserves. The valuation analysis is expected to be completed during the first quarter of 2008. Shares of Penn Treaty closed Friday at $6.49.