This book focuses on the 11 men, lawyers and bankers, who are
responsible for the creation of Wall Street’s merger industry. It
specifically concentrates on the events and personalities who
dominated Wall Street during the takeover battles of the 1970s and
1980s. Lawyers Joe Flom and Marty Lipton, the godfathers of modern
M&A, educated bankers on takeover laws and regulations as well
as tactics. Flom and Lipton were also superlative businessmen who
built their own firms to become Wall Street powerhouses. The two
men drew into their orbit a circle of bankers. Felix Rohatyn, Ira
Harris, Steve Friedman, Geoff Boisi, Eric Gleacher and Bruce
Wasserstein were close to Lipton. Robert Greenhill and Joe Perella
were close to Flom.
M&A Titans provides insight into the culture of the
different investment banks and how each of the bankers influenced
the firms they worked in as they became more powerful. Some such as
Gleacher, Harris, Wasserstein, Perella and Greenhill clashed with
the men running their firms and left. Others such as Friedman and
Boisi stayed and profoundly influenced how the firm did business.
The career of Michael Milken, perhaps the notorious name on Wall
Street in the 1980s, is also examined as well as the actions and
tactics of his firm, Drexel Burnham Lambert. Milken and Drexel
paved the way for the growth of private equity and helped
popularize attacks on management by investors such as Boone Pickens
and Carl Icahn.
responsible for the creation of Wall Street’s merger industry. It
specifically concentrates on the events and personalities who
dominated Wall Street during the takeover battles of the 1970s and
1980s. Lawyers Joe Flom and Marty Lipton, the godfathers of modern
M&A, educated bankers on takeover laws and regulations as well
as tactics. Flom and Lipton were also superlative businessmen who
built their own firms to become Wall Street powerhouses. The two
men drew into their orbit a circle of bankers. Felix Rohatyn, Ira
Harris, Steve Friedman, Geoff Boisi, Eric Gleacher and Bruce
Wasserstein were close to Lipton. Robert Greenhill and Joe Perella
were close to Flom.
M&A Titans provides insight into the culture of the
different investment banks and how each of the bankers influenced
the firms they worked in as they became more powerful. Some such as
Gleacher, Harris, Wasserstein, Perella and Greenhill clashed with
the men running their firms and left. Others such as Friedman and
Boisi stayed and profoundly influenced how the firm did business.
The career of Michael Milken, perhaps the notorious name on Wall
Street in the 1980s, is also examined as well as the actions and
tactics of his firm, Drexel Burnham Lambert. Milken and Drexel
paved the way for the growth of private equity and helped
popularize attacks on management by investors such as Boone Pickens
and Carl Icahn.
€20.99
Table of Content
Acknowledgments ixThe Titans xi
Remarks from Some M&A Titans and Players xiii
Introduction 1
Chapter 1 Genesis: Wall Street, Its Business and Culture 5
Chapter 2 Godfathers–Flom and Lipton 13
Chapter 3 Seducers–Harris and Rohatyn 23
Chapter 4 Systematizer–Goldman Sachs 31
Chapter 5 Originators–Morgan Stanley 43
Chapter 6 Attack or Defend 53
Chapter 7 An Accountant, Feuds, and the Wasserstein Discovery 67
Chapter 8 The Cult of Greenhill, California 85
Chapter 9 Stovepipes 93
Chapter 10 Fall and Rise 103
Chapter 11 ‘The Genius Franchise’ 111
Chapter 12 Stagnation and Implosion 119
Chapter 13 The Rise of Drexel 129
Chapter 14 Crime and Punishment 139
Chapter 15 A Voice in the Wilderness 151
Chapter 16 Intrigue and Resignations 159
Chapter 17 New Horizons 171
Notes 183
References 211
About the Author 215
Index 217
About the author
BRETT COLE is a correspondent for The Economist covering political, economic, and financial developments in North and South Korea. Between 2003 and 2007, he reported on Wall Street while working for Bloomberg News in New York. Prior to 2003, he worked for the news agency in Japan, Taiwan, and Australia.
Language English ● Format EPUB ● Pages 240 ● ISBN 9780470440537 ● File size 0.3 MB ● Publisher John Wiley & Sons ● Published 2008 ● Edition 1 ● Downloadable 24 months ● Currency EUR ● ID 2317459 ● Copy protection Adobe DRM
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