Highway 407Tibor Kolley/The Globe and Mail
A look at some must-read news on deals and deal makers around the world
The return of equity offerings
Equity offerings are back, in a big way, with five coming to market just yesterday. Add that to the planned initial public offerings of Whistler Blackcomb Holdings Inc., expected to be in the $300-million range, and the close to $1-billion offering of a new company to hold a stake in the 407 toll road in Toronto, and the final few months of the year have the makings of a good run for bankers on equity desks who have had a pretty slow go of it otherwise. CIBC in particular is looking busy, and likely to move up in the rankings thanks to leading roles on the 407 deal and on Whistler.
Goldman gets mandate to defend Yahoo!
Yahoo! Inc. has hired Goldman Sachs Group Inc. for advice as it faces a possible buyout bid. As AOL talks with private equity firms about potentially taking a run at Yahoo!, the computer search company is getting ready to defend itself, according to Bloomberg News.
A cheque for the Mail?
Former Canada Post boss Moya Greene looks like she's moving out of the public sector. After taking the job as head of Britain's Royal Mail, it now appears she will soon be running a company owned by investors as the British governement moves to sell a stake.
Global Bank Tax, the sequel
It was a scary movie for financiers the first time around, but in the end a Canada-led band of unlikely fighters stopped a global bank tax. Now, part II of the nightmare scenario for banks could be on the way as the campaign for a "Robin Hood" levy on financial transactions gets more support.
Bad time to be an analyst
The fall and rise of markets over the past couple of years have made it a bad time to be an equity analyst. Getting it right has been a rare thing. According to Bloomberg News, Goldman Sachs was the most accurate predictor of financial stocks. However, its 38 per cent batting average isn't going to make too many investors very much money.
Oops
Some office buildings in Dubai will likely never find tenants, because they were so badly thought out as builders rushed to put up towers during the boom years. That's according to brokerage firm CB Richard Ellis.