Chillin' out till it needs to be funded
The flurry of second half deals getting consummated in December and the resurgence of IPOs again means good interest int he deals that made 2011 despite the AT&T, J&J and the Big Board stretches that could not overcome anti trust in each case.
The Lubrizol deal for Warren Buffet was definitely the soul connection market makers were looking for despite the bad news Charlie mini typhoon following Buffet’s deal with questions on insider trading practices arising from the Buffet manager David Sokol’s actions in the deal negotiations
Those who at Morgan Stanley, pushed Groupon out of the stables, may be getting praise in some circles but are unlikely to survive another stunt like that in 2012, as Groupon wipes out the momentum for all things digital even for gaming frat Zynga and the big boy Linked in lying low after a successful offering
The Linked in IPO in April 2011 was however another of the sweet deals that rewrote an otherwise bare year for Equities, trending so much
ahead that China and Hongkong exchanges hosted a lot of new brand and label wars from Europe, Prada and Coach to Kors in NYSE for shareholder dollars to still take China into the lead in IPO dollars in the year. The Linked In IPO was priced at a $45 , revised to above its upper end of the range and listed and stayed above $84 for most of the year till restrictions on sales lifted in November after six months.
Zynga could not hold however, it changed industry perceptions to the extent that these profit making next gen companies were the toast of the town thru 2011 and revered by conservative fund managers too, even as Warren Buffet came home to IBM with his other $10 bln purchase in the year
Caterpillar was one of the very few to win anti trust approval in the year and they did that for their Bucyrus acquisdition in US, Europe and in China which has some tough covenants in place as they ar enew to regulation
Goldman Sachs leads the 2011 league tables in Equity IPOs with $11.3 bln against the $10 bln managed by James P Gorman’s Morgan Stanley
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