Goldman IPO wins backing of partners
Article Abstract:
The partners of Goldman Sachs & Co. have approved the 129-year-old Wall Street investment bank's plans to sell as much as a 15% stake in an initial public offering. The IPO, which industry analysts predict will raise over $3 billion in the largest IPO in the history of US financial services, will bring over $100 million in stock for the firm's senior partners. Industry analysts have said that Goldman Sachs' IPO, which was initially proposed by the company's executive committee in June, is valued at between $25 billion and $32 billion.
Comment:
The firm's partners have approved plans to sell as much as a 15% stake in an initial public offering
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Credit Suisse hires Frank Quattrone in bid to boost high-tech bank effort
Article Abstract:
Credit Suisse First Boston hired Frank Quattrone to become the head of the bank's technology group. Mr. Quattrone is considered to be a star in the technology banking field. Credit Suisse also hired two other bankers, George Boutros and Bill Brady, as it attempts to enhance its high-tech banking effort. The appointments represent a setback to Deutsche Bank Securities Inc., which had constructed its banking operations around Mr. Quattrone.
Comment:
Credit Suisse First Boston hires Frank Quattrone to become the head of the bank's technology group
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Donaldson Lufkin to sell stock to parent companies
Article Abstract:
Donaldson, Lufkin & Jenrette Inc. (DLJ) announced that it will sell up to $300 million of newly issued common shares to its parent companies. The sale of the stock will be a private offering. The announcement will probably lower expectations of a takeover in its shares. DLJ's parent firms are Equitable Cos. and Axa Group. The announcement confirms that both companies see DLJ as a core asset.
Comment:
Announced that it will sell up to $300 million of newly issued common shares to its parent companies
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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