Mizuho will find M&A history rhymes at Greenhill

Greenhill & Co

22/05/2023 17:37

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
    By Jeffrey Goldfarb
       NEW YORK, May 22 (Reuters Breakingviews) - The Japanese
giant is expanding rapidly in merger advice by acquiring the
boutique for $550 mln. Striking during a dry spell means a lower
cost and less chance of bankers leaving. Dealmakers blind to the
risks of their own deals, however, has caused decades of
disappointment.       
    Full view will be published shortly.
    Follow @jgfarb on Twitter
    
    CONTEXT NEWS
    Mizuho Financial said on May 22 that it had agreed to
acquire boutique U.S. investment bank Greenhill for about $550
million, including debt.
    At $15 a share, the deal represents a 121% premium to
Greenhill’s closing stock price on May 19.
    Citi is advising Mizuho while Houlihan Lokey is advising
Greenhill.

 (Editing by Jonathan Guilford and Streisand Neto)
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