Category: DealToday

Who says book publishing is a slow-poke business? Only a few days after the meltdown at Bear Stearns, Bertelsmann AGÂ’s Doubleday imprint has signed up a new book about the investment bankÂ’s collapse and the troubles on Wall Street. “I was looking at my 401(k) plan on Friday and thinking there must be a narrative […]

Who says book publishing is a slow-poke business? Only a few days after the meltdown at Bear Stearns, Bertelsmann AGÂ’s Doubleday imprint has signed up a new book about the investment bankÂ’s collapse and the troubles on Wall Street. “I was looking at my 401(k) plan on Friday and thinking there must be a narrative […]

Lehman Brothers sees lots of opportunity for Chinese companies making M&A plays outside their home border. But plenty of big banking fees hang on an important question: Will other countries accept China as a bonafide buyer or not?
WSJ colleague Rick Carew in Hong Kong interviewed Lehman Brothers’ head of investment banking for the Asia-Pacific […]

Lehman Brothers sees lots of opportunity for Chinese companies making M&A plays outside their home border. But plenty of big banking fees hang on an important question: Will other countries accept China as a bonafide buyer or not?
WSJ colleague Rick Carew in Hong Kong interviewed Lehman Brothers’ head of investment banking for the Asia-Pacific […]

Forget about an 89% drop in our fourth quarter profits, pay no mind to legal squabbles with our buyout targets (see, e.g., Alliance Data Systems) and don’t worry about our slumping share price. We are Blackstone and we rule!
There was nary a negative word in a letter that Blackstone big wigs Steve Schwarzman, Tony James […]

$2? $5? $20?
What is a share of Bear Stearns worth? It’s the question that’s hovered over Wall Street since the historic $2-per-share deal last Monday. Bear shares are down 71 cents today, to about $5.20 each. (See this Deal Journal post for roundup from around the Web on this subject.)
One thing is clear — there […]

Associated Press

Lehman Brothers and Goldman Sachs took a lot of heat as the first investment banks to report first-quarter earnings. Many are watching Morgan Stanley just as closely. Deal Journal breaks down the positive and not-so-positive trends in the investment bank’s business, in the words of chief financial officer Colm Kelleher. Kelleher memorably said today […]

The big question still remains: Why are Bear’s shares trading above J.P. Morgan Chase’s offer price?
The WSJ tackled the issue today, reporting that speculators are betting Bear will get sold at a higher price as Bear’s shareholders gear up for fight.
Portfolio.com’s Felix Salmon in his Market Movers blog writes that he is […]

Birds may do it, and bees may do it, but people who have money tied up in Bear Stearns just can’t fall in love with J.P. Morgan’s lowball $2.34 a share bid.
SELLING BEAR
 

See all of Deal Journal’s posts on the fall of Bear Stearns. Plus, click here for continuing coverage from the Wall Street […]

Yesterday, Frank Quattrone (below) announced that he is starting a new advisory firm, Qatalyst Partners. The move marked one of the investment-banking world’s great comebacks, not the least because of the tech-world heavy-hitters that have thrown their support behind Quattrone already.

Associated Press

The statement about Qatalyst’s founding includes supportive quotes from Google CEO Eric Schmidt, […]