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Don’t Expect The $68 Billion Pfizer-Wyeth Deal To Lift Merger Market
When Pfizer Inc. (PFE) unveiled a $68 billion buyout offer for U.S. rival Wyeth (WYE) last week, it sparked hopes that the deal might re-ignite the moribund merger market. But when the Wall Street dealmakers take a closer look, those flames will likely be doused in cold water.
For those rooting for a revival of buyout activity, the merger of the two companies shows that corporate predators are still on the prowl and adequate financing is still available for some big transactions.
But as Money Morning reported recently as part of its ongoing “Outlook 2009” economic forecasting series, the credit crisis has put…
2Feb2009 | Money Morning | 0 comments | ContinuedHedge Funds Have Another $200 Billion to go to Complete Their “De-leveraging”
Hedge funds looking to slash their use of borrowed money may have to unload another $200 billion in assets to reach their objectives, a new study found, though a Money Morning expert believes the exit door could get pretty narrow should the holiday shopping season get off to a rocky start later this week.
Investors yanked $40 billion from the $1.5 trillion hedge fund industry in October, a month in which market losses slashed industry assets by an additional $115 billion, Hedge Fund Research Inc., reported. A new survey of hedge fund managers conducted by Sanford C. Bernstein & Co. LLC found that 63%…
25Nov2008 | Money Morning | 0 comments | ContinuedBear bet that netted £141m throws fresh suspicion on collapse
It seems that Wall St. are trying to blame the straw for breaking the camel’s back. As The Independent report today:
Suspicion over the collapse of Bear Stearns is centring on a massive options trade, less than two weeks before the historic investment bank went under in March, by which a single investor made a profit of more than $270m (£141m) on a bet against the company’s share price.
In a “whodunnit†that has gripped Wall Street for months, many traders and senior executives at Bear Stearns have become convinced the firm was brought down by a conspiracy of rivals and hedge…
13Aug2008 | The Gold Blog | Comments Off | Continued
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