Jeffrey's Feed
May 17, 2013
via Breakingviews

Wells Fargo boss takes turn on soapbox

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By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

John Stumpf may be easing his way onto the soapbox. The Wells Fargo chief executive runs the biggest U.S. bank by market value, at $210 billion, but has kept a lower profile than many of his peers. Lately, though, he has been critiquing regulation more, tiptoeing into a role filled until recently by JPMorgan boss Jamie Dimon.

May 16, 2013

Breakingviews-Wells Fargo boss takes turn on soapbox

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Jeffrey Goldfarb

NEW YORK, May 16 (Reuters Breakingviews) – John Stumpf may
be easing his way onto the soapbox. The Wells Fargo (WFC.N: Quote, Profile, Research)
chief executive runs the biggest U.S. bank by market value, at
$210 billion, but has kept a lower profile than many of his
peers. Lately, though, he has been critiquing regulation more,
tiptoeing into a role filled until recently by JPMorgan (JPM.N: Quote, Profile, Research)
boss Jamie Dimon.

May 13, 2013
via Breakingviews

Could Silver Lake quietly be rooting for Icahn?

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By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Carl Icahn may have a secret admirer. The uppity billionaire fired his latest salvo in the battle over Dell late last week, proposing a half-baked leveraged recapitalization. The plan could be a ploy to get Silver Lake Partners and founder Michael Dell to sweeten their $24.4 billion bid. It’s hard not to wonder, though, if the buyout firm isn’t quietly rooting for Icahn.

May 13, 2013

Breakingviews-Bloomberg scandal spares bankers’ blushes

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Jeffrey Goldfarb

NEW YORK, May 13 (Reuters Breakingviews) – Unseemly
conflicts of interest are not confined to Wall Street. Goldman
Sachs (GS.N: Quote, Profile, Research) and its peers regularly take heat for playing all
sides of a trade. Now a furor involving Bloomberg reporters
using private customer data has, this time, spared the blushes
of bankers.

May 10, 2013
via Breakingviews

Apple’s bite out of market seeds IPO appetites

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist the opinions expressed are his own.

 

By taking a big bite out of the American stock market, Apple is inadvertently seeding the appetite for equity. While the iPad maker’s recently supersized $50 billion buyback program may be unique in its scale as the largest of all time, it also typifies one of the big challenges facing investors seeking to deploy their money.

May 1, 2013
via Breakingviews

Former junk bond king has more leverage than ever

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Former junk bond king Michael Milken has more leverage than ever. Three decades after mastering the art of raising money, the man whose indictment on securities violations brought down Drexel Burnham Lambert now trades more heavily in intellectual capital.

Apr 17, 2013
via Breakingviews

Crackdowns only make M&A leaks more tempting

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

 

Cracking down on M&A leaks may only make them more tempting. Merger practitioners say fresh research showing that news is trickling out less often about companies for sale can partly be attributed to tougher rules and enforcement. Though loose lips come with less chance of deals closing, they also coincide with much higher premiums. Some bankers will always fancy that mix of risk and reward.

Mar 27, 2013
via Breakingviews

Potemkin Dell fight would have optical merits

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Even losers could emerge as winners from the Dell takeover battle. Blackstone Group, Silver Lake Partners, the Dell board and founder Michael Dell could stand to benefit from the impression of a hard-fought auction. A Potemkin fight, if that’s what it turns out to be, just may not help shareholders quite so much.

Mar 20, 2013
via Breakingviews

Optimism over M&A may be deserved – at a discount

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By Jeffrey Goldfarb
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

 

M&A bankers and lawyers telling a PR firm that specializes in deals they expect to see more merger activity makes for sweet echo-chamber music. The survey released by Brunswick Group to coincide with an annual U.S. dealmaker powwow found three out of four practitioners expecting more M&A globally this year than last. They’re more bullish than ever about North America, with 97 percent anticipating growth in the region. A discount needs to be applied to all the optimism.

Mar 7, 2013
via Breakingviews

A brief history of Time: an epic M&A tale

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By Jeffrey Goldfarb
Thea author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The brief history of Time is a truly epic M&A tale. The gold standard of U.S. magazine publishing proved the ultimate foundation for a giant media conglomerate. Time Warner’s decision on Wednesday to spin off the legacy of Henry Luce’s 1920s vision represents the last step in dismantling the empire.