Thursday, 30 October 2014
Last updated 1 hour ago
Jan 24 2007 | 11:52am ET
If only the Hatfields and McCoys had a $15 billion deal to make amends over.
Wall Street’s version of the gunslinging Appalachian back-country haters is taking an interesting turn, as Goldman Sachs and Morgan Stanley combine their considerable resources (and tame their considerable egos) to win a particularly fat piece of private equity fruit.
The peacemaker? A bid for the oil and gas assets of Dominion Resources, which could be as high as $15 billion. And rather than two old adversaries going it alone, The Wall Street Journal reports that they’ve quietly teamed up with such p.e. heavyweights as Madison Dearborn Partners, Warburg Pincus, First Reserve, The Carlyle Group and Riverstone Holdings.
Goldman and Morgan have worked together in the past, the Journal notes, but not since the heady days of the internet and Asian bubbles. Sometimes, however, working with a hated rival is better than losing: The Blackstone Group, Texas Pacific Group and Kohlberg Kravis Roberts are reportedly considering a joint bid themselves.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.