Fascinating tale of how one of the nations largest IPO underwriters got tossed from consideration from the hottest IPO since the tech bubble popped up:
“When executives at Google went looking for Wall Street investment bankers to underwrite the company’s massive initial public offering, they laid down strict terms of engagement: bring us new ideas on how to sell the deal to investors and save the usual political gamesmanship. But with such a huge payday at stake—an estimated $100 million in fees for handling the offering—would you expect all the big firms to play by the Google rules? Of course not. Just ask Goldman Sachs.”
Call it tangled up in the “Google Rules.”
Playing by Google Rules
By Charles Gasparino
Newsweek, May 10
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