Word: bankers
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Mike L. Armstrong ’03, an investment banker at JP Morgan in New York, currently forwards his post.harvard mail to his fas.alumni account. That way, he said, he can keep personal messages out of his company inbox, while still checking them at work via Harvard’s fas.alumni website...
...ahead to him to pursue a deal. But in early March, Unocal's board rejected Chevron's initial offer?an all-stock deal worth less than $60 per share. "They wanted some cash on the barrelhead and knew CNOOC would be coming forward with a cash bid," says a banker who advised Unocal...
...ball was in CNOOC's court, and Fu, by all accounts, was confident as his board gathered in Hong Kong. He did not see the rebellion coming, says a banker close to CNOOC. Three key outside directors?former Shell Chemicals CEO Evert Henkes, former Swiss ambassador Schurtenberger, and Courtis of Goldman Sachs?all raised pointed questions at the meeting. According to sources with knowledge of the meeting, Schurtenberger?presciently, as it turned out?questioned whether the company was prepared for what was likely to be a hostile U.S. political reaction to the deal. Henkes wondered about the debt load that...
...abruptly turning and acridly muttering about “Sanitation: our enemy number one,” and “antibiotic resistance.” Perplexing moments like this one strop the razor of the unengaged summer mind to the acumen of the average I-banker...
...debt to finance the deal. Fu insists that no one in the government pushed the company to buy Unocal, and sources close to CNOOC's board tell TIME that Fu, not some shadowy string-pulling figure in Beijing, has been the driving force behind the bid. Indeed, a banker close to the deal says that Fu is convinced the value of Unocal is actually "much higher" than what his company is offering for it (attention Unocal shareholders!) and that if Chevron counters, CNOOC might not be shy about raising its bid. "If you know our history," Fu told analysts last...