Leaving the bride at the altar Friday, November 16, 2007
Since the credit crunch, Dealogic have identified more than $200bn of failed corporate transactions, which is double the rate of 2006. Most deals were agreed in rosier times in the credit market.
Examples are Cerebus (a Northern Rock bidder) walked away from United Rentals ($7bn); JC Flowers walked away from Sallie Mae ($26bn); Cerebus left Affiliated Computer Sciences behind ($8bn)...........
That's a lot of cash remaining stashed under a mattress.
Labels: private equity
posted by John Wilson @ 9:19 AM Permanent Link
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