Goldman Wins - Even When It Loses

Goldman Crowned

Sometimes deals that never happen are the best kind - at least for Goldman Sachs.

Bloomberg reports that in recent months the Goldman failed to put together three potential mergers in the health-care industry.

Yet the firm still managed to pull a takeover out of the wreckage - Valeant Pharmaceuticals' $8.7bn acquisition of contact-lens maker Bausch & Lomb Holdings, announced last week.

Goldman Sachs not only salvaged a role for itself, it landed on both sides of the deal and is likely to reap as much as $35m in advisory fees along with the largest portion of as much as $140m in financing fees, according to Freeman & Co., a New York research firm. The firm is arranging debt financing to Montreal-based Valeant, while serving as lead adviser to Bausch & Lomb, according to the companies’ statement on May 27.

In the recent spate of health-care deals, Goldman Sachs was aided by representing each of the pivotal companies in various roles, and wound up a big winner when the deals didn't quite go the way the firm planned.

Hit the link below to access the complete Bloomberg article:

Goldman Salvages Fees With Bausch After Failed Deals

SAC Insiders Said to See Most Client Cash Gone by 2014

George Weiler III, UBS Wealth-Management Executive, Dies at 69



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