Setting the value of Wall St. history
Article Abstract:
Goldman, Sachs and Co., Wall Street's last large private partnership, may go public in Fall 1998 by offering a 20% stake in the securities firm. Estimates of Goldman Sachs' worth range from $15 billion to $35 billion, depending on what multiple of the firm's equity is used. The firm reported its book value as $6.3 billion as of the quarter ended February 28, 1998. Morgan Stanley and Merrill Lynch both trade at 3.5 to 4 times book value, and both earned considerably less than Goldman Sachs' 48.1% return on common equity in 1997.
Comment:
May go public in Fall 1998 by offering a 20% stake
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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A.I.G. will put $1.35 billion into Blackstone
Article Abstract:
American International Group Inc. (AIG) announced that it would make a $1.35 billion investment in the Blackstone Group. The announcement increased the possibility that the two firms will engage in greater cooperation with each other in the future. Blackstone is a private merchant bank based in New York. Some $150 million of the investment will be used by AIG to purchase a 7% limited partnership in Blackstone.
Comment:
AIG announced that it would make a $1.35 billion investment in the Blackstone Group
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Comment about this article or add new information about this topic:
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