Two big deals last week — Google’s $12.5 billion takeover bid for Motorola Mobility and Hewlett-Packard’s $11.7 billion purchase of Autonomy — underscored the growing influence of boutique investment banks. According to CNBC among the firms that helped propel the two transactions were Qatalyst Partners, Centerview Partners and Perella Weinberg Partners, as well as the biggest independent investment bank, Lazard.
Only Barclays Capital, which advised H.P., is a full-service bank that can lay claim to a significant role in either deal. While other big names were listed as advisers to Autonomy, nearly all were added at the last minute, according to people briefed on the matter who asked for anonymity because the discussion among the banks was private.
Since the passing of the financial crisis, boutique investment banks have claimed that their time has come. Their pitch is relatively simple: we sell advice and advice alone. They have no research arms or proprietary trading businesses, which trade for the bank’s own account, that could lead to a conflict of interest…..
Find out more at http://www.cnbc.com/id/44238222
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