Word: wassersteins
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...giant step toward realizing that goal last week, stunning Wall Street with a move to become a major player in the U.S. mergers-and- acquisitions game. The company said it was paying $100 million for 20% of the hot, new Manhattan investment firm started six months ago by Bruce Wasserstein and Joseph Perella, the Wall Street wizards who built First Boston's merger department into one of the best in the business and then left to strike out on their...
...Wasserstein, Perella has already managed about $19 billion worth of mergers and acquisitions, including the $6.6 billion purchase of Federated Department Stores by Canadian Developer Robert Campeau. Teaming up with the U.S. firm, Nomura can gain expertise in merger making and help its Japanese clients acquire U.S. companies. For Wasserstein, Perella the deal provides both an infusion of capital and global connections. Says Perella: "No other single alliance could give us the comprehensive reach that the Japanese connection we have with Nomura could...
After Perella and Wasserstein finally decided to bail out last week, they met Monday night at the office of their law firm, Wachtell, Lipton, Rosen & Katz, where attorneys helped them draft a charter for their new company. The next morning the two went to First Boston and wrote their resignations. "This is a decision not reached easily," read Perella's handwritten note. Says Wasserstein: "I was flattered to be well paid, but I disagreed with the firm's management on fundamentals." The departing stars made an 11 a.m. appointment with Buchanan in his 43rd-floor Manhattan office, where they cordially...
...Maher and Bott will be hard-pressed to match their predecessors' style or accomplishments. In boardrooms from Pittsburgh to Palm Beach, the two men seemed an unlikely pair. Perella, a lanky 6 ft. 6 in., with an affable demeanor, towers over the rounder, more combative Wasserstein. But since the duo began building First Boston's mergers department in the mid-1970s, they have brought their firm into some of the most famous and infamous deals of the decade. In one case, the team was all too effective in helping Texaco beat rival Pennzoil in a battle to acquire Getty...
Despite their profit-making ability, Wasserstein and Perella were unable to resolve a basic tension between the competing demands of First Boston's investment-banking and trading departments. During the bull-market days of the early 1980s, trading departments grew in size and influence because of their steady profit stream. But since traders are now risking large amounts of capital in increasingly volatile markets, investment bankers argue that the money would be better spent to finance ventures that lately have produced more reliable income. Dealmakers like Wasserstein and Perella are especially eager to become merchant bankers, who use their...