Goldman Scores On Two Big M&A Deals
November 03 2009 - 11:14AM
Dow Jones News
Goldman Sachs Group Inc. (GS) started the week with a twofer, as
it scored big advising on two major M&A deals in as many
days.
Goldman advised Burlington Northern Santa Fe (BNI) on its $44
billion buyout by Warren Buffett's Berkshire Hathaway (BRKA).
Evercore Partners (EVR) also advised Burlington. And, on Monday,
Goldman was disclosed to have advised in Stanley Works (SWK)
acquisition of Black & Decker (BDK) .
"Fees from these deals will not be recorded until closing but
they are expected to be substantial," according to Rochdale
Securities' analyst Dick Bove. "One of my core theories is that
2010 will be a record year for mergers and acquisitions. The yield
on junk bonds has fallen from 25% to 9.8% suggesting that money is
available to do these deals," Bove concluded.
-By Greg Morcroft, 415-439-6400; AskNewswires@dowjones.com
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