Perella Weinberg, the I-banking All Star boutique founded in 2005, finally snagged a marquee US deal, right after losing another potential elephant. The bank is a co-lead advisor to Thomson in its bid to take over Reuters for $17.5bn.
Ford is the elephant that escaped. With Perella the frontrunner to land the deal, the Ford family decided not to hire an investment bank (at the moment) to decide what to do with its 40% voting stake in the company.
Despite what’s hanging over the mantle, Perella claims to be quite the avid deal hunter. Although Perella has been credited with advising $34bn in deals since inception, the firm claims it has worked on $60bn worth of now defunct deals that you don’t even know about.
Time out (Zack Morris style)… Is that a valid metric to anyone but a boutique investment bank trying to impress people? I’m sure a bulge bracket bank could say that’s it’s worked on [pick an insane and arbitrary dollar amount here] worth of “potential” deals.
The largest deal Perella ever landed was Unibail’s $19bn acquisition of Rodamco Europe, which, until now, dwarfed the firm’s largest US deal (the $700mm Pathmark sale to A&P).
The Ford Deal That Got Away From Perella Weinberg – [WSJ Deal Journal]
Joe Perella Gets His Headline Deal – [DealBook]
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Remember Hakan Yalincak? You wrote a few days back about his effort to stay out of prison for an extra month due to a “possible” stroke.
He never got that extension. But according to documents available through ECF/Pacer, he was admitted to St. Francis Hospital’s ER (in Hartford, Conn.) the night before he was supposed to report to start serving his time.
The cause? an unspecificed overdosage of an unspecified medication.
You can read this in any of several ways….
Remember Hakan Yalincak? You wrote a few days back about his effort to stay out of prison for an extra month due to a “possible” stroke.
He never got that extension. But according to documents available through ECF/Pacer, he was admitted to St. Francis Hospital’s ER (in Hartford, Conn.) the night before he was supposed to report to start serving his time.
The cause? an unspecificed overdosage of an unspecified medication.
You can read this in any of several ways….
So cobbling together pitchbooks counts as “working on potential deals” now?
Sad but true, Zbignew. That’s how most shitty middle market shops work. They gotta show something, right?
Can I use this logic when answering with respect to what other job offers I currently have?
M.Yass,
I did that when interviewing out of college. I’d just say “I’m currently in talks with X, Y, and Z” and by “talks” I mean I sent them my resume and haven’t heard in a month. Incidentally, don’t mention any small firms in the same area as the one you’re interviewing with using that strategy as they likely have friends there and not too many candidates.
Thanks, BSD. Combine the above wisdom and logic with a degree from ITT Tech, and potentially, the world is your oyster.