PNC Finds a Use for BlackRock Cash With $11.6 Billion BBVA Deal
PNC fuels expansion into Texas and California to compete with retail banking giants JPMorgan Chase and Bank of America.
Investment Banking
M&A Rebound Going Strong
Deal value in the third quarter was up 98 percent from the second quarter, according to updated data from Refinitiv. “Dealmaking strongly rebounded far earlier than expectations,” says Matt Toole, director of deals intelligence.
Canaccord Sees Capital-Markets Boom Lasting Into Next Year
CEO Dan Daviau credits the performance to Canaccord’s focus on mid-market life sciences, technology and mining companies
Canaccord Sees Capital-Markets Boom Lasting Into Next Year
CEO Dan Daviau credits the performance to Canaccord’s focus on mid-market life sciences, technology and mining companies
Availability of Cash in the IPO Market Fuels a Rise in SPACs
"With interest rates where they currently are and other investment opportunities less attractive in the current environment, investors are putting their cash in a product that guarantees their money back," says Reed Smith partner Ari Edelman in this Q&A.
BC Partners Faces Lender Rebuke After Burning PetSmart Creditors
BC Partners, which just three years earlier had saddled PetSmart with billions of dollars of debt to acquire Chewy, approached investors with a simple pitch: focus on services, such as grooming and training, that made the business resilient to online competitors.
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Weekly Wrap: ConocoPhillips, Intel, Jordan
ConocoPhillips buys Concho. Intel divests Nand. Jordan Co. acquires Potters.
Sun Life Buys Majority Stake in Crescent Capital to Bolster Asset Management Business
The deal for Crescent comes as many companies are struggling to stay alive through the coronavirus pandemic, and are turning to alternative lenders for money they can’t get from banks.
Big Banks Need a Year’s Worth of Liquidity Under U.S. Rule
The rule requires that 20 of the biggest U.S. lenders be able to rely on stable funding sources, such as long-term debt and customers’ deposits, in the event of a year long liquidity drought.