It’s easy to doubt trustbusters’ ability to hold giant companies to account. But as railroads have shown, consolidation doesn’t mean that end users are gouged. Shareholders have won out, too, suggesting there is give-and-take. That’s the best regulators can hope for.
The $127 bln aircraft maker run by General Electric alum David Calhoun now has problems with some engines it uses. It comes just as 737 MAX issues are in the rear view. Boeing s future is burdened by inertia and a growing debt load. As GE shows, that can take decades to unwind.
Oil giants Exxon Mobil and Chevron have discussed merging. In the fantasy M&A game, Exxon could in theory buy Chevron at a premium, mostly for stock. But Darren Woods may not be investors’ preferred leader for the combined group. Chevron buying Exxon might bring the right.
Breakingviews
3 Min Read
Peter Weinberg, head of advisory at Perella Weinberg Partners, speaks during a Reuters Breakingviews panel in New York, U.S. January 10, 2017. REUTERS/Lucas Jackson
NEW YORK (Reuters Breakingviews) - Perella Weinberg is injecting some financial sense into one of the hottest market trends. The advisory firm founded by Joseph Perella, Peter Weinberg and Terry Meguid has registered a $977 million valuation in a deal to sell itself to a special-purpose acquisition company. It is a sensible price for a real business in a competitive market.
The firm’s 60-odd partners made their careers doling out advice to companies like cruise-liner operator Royal Caribbean and private equity giant KKR. The boutique firm, with a 15 year track record, brought in $533 million of revenue in 2019, posting a compound annual growth rate of 15% on average over the three years prior. On an adjusted basis, Perella Weinberg actually makes a profit, too.
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