Friday, December 30, 2011

Top Banks Fight For Facebook Gold


This year has been lackluster for Wall Street bankers. But next year, there's Facebook Inc. Up for grabs is the lead investment-banking role in the social-networking site's initial public offering, and long-time rivals Goldman Sachs Group Inc. and Morgan Stanley are considered front-runners, bankers and venture capitalists say.


The Menlo Park, Calif., company plans to file its offering documents in early 2012, a person familiar with the matter has said, meaning that a decision on bankers could be soon. Some bankers have been waiting by the phone over the holidays for the call that they will be participating in the company's IPO in some way, another person said.

The deal will be one of the most hotly contested offerings of the decade, with hundreds of millions of dollars in potential fees and bragging rights on the line...

More? Check out http://online.wsj.com/article/SB10001424052970203686204577116823321665502.html?mod=WSJ_hp_LEFTWhatsNewsCollection

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