Posts filed under “M&A”

32-Floors of Anxiety

Interesting take via Bloomberg on the Barclay’s takeover of Lehman:

"The name on the building is gone. So is the fast-moving video display of clouds in a blue sky over a wheat field combed by wind and followed by a message: “Delivering our firm to clients worldwide.”

In their place on the façade of the 32-story headquarters building of Lehman Brothers Holdings Inc. at 745 Seventh Avenue in Manhattan is the white and blue logo of Barclays Plc. Inside, former Lehman employees still wear the green and white security badges of the 158-year-old bankrupt investment bank and wonder if they’ll be gone.

Nine days after Barclays agreed to pay $1.75 billion for Lehman’s investment banking and capital markets, including its headquarters, former Lehman employees at 745 say they’re in limbo on whether they’ll be retained by Barclays and under what conditions."

These are strange and interesting days . . .


Barclays Puts Logo on Lehman Office, Gets 32-Floors of Anxiety
Serena Saitto
Bloomberg, Sept. 26 2008

Category: Credit, M&A

A Very Expensive Berkshire/Goldman Deal

Category: Bailouts, M&A

Berkshire to GS: “I Got $5 Billion, but Its Gonna Cost Ya”


Goldman Sachs Group Inc. will raise at least $7.5 billion from Warren Buffett’s Berkshire Hathaway Inc. and public investors in a bid to quell concerns that pushed up the Wall Street firm’s borrowing costs and hurt its stock.

Berkshire is buying $5 billion of perpetual preferred shares, New York-based Goldman said today in a statement. Goldman, which this week transformed itself from the biggest U.S. securities firm to the fourth-largest bank by assets, also plans to raise at least $2.5 billion by selling common stock in a public offering.

Goldman Chief Executive Officer Lloyd Blankfein is turning to Buffett, the billionaire investor and second-wealthiest American, to boost market confidence even though Goldman hasn’t reported a quarterly loss since it went public in 1999. The bankruptcy of Lehman Brothers Holdings Inc. and emergency sale of Merrill Lynch & Co. to Bank of America Corp. on Sept. 15 have fueled fears about firms that rely on bond markets for funding.

Category: Corporate Management, Credit, Finance, M&A, Psychology

SIPC: Lehman To Be Liquidated

Category: Corporate Management, Credit, Legal, M&A, Short Selling, Valuation

Merger Rumors, Shotgun Weddings

Category: Bailouts, Credit, M&A

My Mea Culpa on Thain

Category: Bailouts, Corporate Management, Credit, M&A, Valuation

Lehman Gets PE Bid; Friday Night Fed Meeting

Category: Bailouts, Corporate Management, Credit, M&A, Valuation

Lehman Bailout This Weekend?

Category: Bailouts, Credit, M&A, Valuation

Fannie + Freddie = Frannie ?

Category: Bailouts, Credit, M&A, Real Estate

Bove: Fuld Has Three Days to Solve Lehman’s Problems

Richard Bove, an analyst at Ladenburg Thalmann & Co., talks about the possible sale of Lehman Brothers Holdings Inc. or some of its assets. Korea Development Bank said it’s "considering" an investment in the company and is "open" to an acquisition, according to a Reuters report. Lehman is the fourth-biggest U.S. securities firm.

click for video

00:00 Potential bidders for Lehman
01:24 Fuld has "run out of options."          
02:52 Potential share valuation in transaction

Running time 03:31

Bove Says Fuld Has Three Days to Solve Lehman’s Problems: Video
Aug. 22 (Bloomberg,  August 22, 2008 11:17 EDT

Category: Credit, Finance, M&A, Video