Word: perella
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...Street investment firms are built around stars. Well known and well paid, cosseted and coddled, the stars eventually become almost synonymous with the institutions that employ them. Nowhere was this more true than at the elite investment firm of First Boston, where the duo of Bruce Wasserstein and Joseph Perella created a mecca for merger-and-acquisit ion advice. Owing largely to their prestige, First Boston was the busiest takeover player on Wall Street last year, handling an estimated 174 deals. Serving as masterminds in some of the biggest corporate struggles of the decade, the two men have sparred with...
...Medical Institute decided last August to offer Hughes Aircraft to the highest bidder because of various seemingly insoluble tax and legal problems. It turned to the Wall Street firm of Morgan Stanley to handle the auction. "The Russians would have been happy to make the highest bid," quipped Joseph Perella, a managing director of First Boston, a Hughes adviser. From the outset, GM seemed the most likely buyer. Detroit's recovery had left the largest U.S. automaker with some $9 billion to spend, even after the E.D.S. acquisition, and Smith badly wanted Hughes...
...company's first steps was to summon its group of outside advisers. They included: Bruce Wasserstein and Joseph Perella, investment bankers with First Boston Corp., a Wall Street firm; Joseph Flom, a lawyer with the New York firm Skadden, Arps, Slate, Meagher & Flom; and Richard Cheney, a public relations expert with New York's Hill & Knowlton, who directed the media campaign that helped McGraw-Hill block the attempt by American Express to take it over...
...frenzied series of weekend meetings, these hired guns huddled with Marathon's board of directors. Wasserstein and Perella told them that Mobil's offer of $85 a share was "grossly inadequate." Flom advised the directors that the offer raised serious antitrust questions. As a result, Marathon sued Mobil in Cleveland's federal district court and obtained a temporary restraining order to stall the takeover bid. Cheney and his staff arranged a satellite broadcast to television stations across the U.S. of Marathon's response to the Mobil offer...
...infighting, all aimed at acquiring the nation's ninth largest oil company. Du Pont had won Conoco by outbidding Seagram, the world's biggest liquor distiller, and Mobil Oil, the second largest American petroleum firm. "There's never been a merger contest like it," said Joseph Perella, a member of the team of investment bankers from First Boston that advised Du Pont on its winning strategy...