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Deal Journal
An up-to-the-minute take on deals and deal makers.
  • Apr 1, 2011
    5:52 PM

    Jobs Report: Best Gig on Wall Street? Lloyd Blankfein’s Driver

    (Kyle Stock writes for WSJ’s FINS Finance.)

    It’s pay season in corporate America, and look who’s got a stellar gig: the driver for Goldman Sachs CEO Lloyd Blankfein. The Wall Street firm forked over $185,110 for Blankfein’s car and driver, more than double what it paid to shuttle him around in 2009. One of Blankein’s sons, who also works at the firm, was paid about $170,000, according to the company’s proxy filing.

    Traders were emboldened this week by 216,000 new jobs, but Wall Street was fascinated with one position in particular: the head of Nomura’s Americas investment bank.

    The company abruptly announced Tuesday that Greg Schiffman, 41, left the position after only about a year. Jim DeNaut, who was hired from Deutsche Bank in August, has taken over.

    The buzz built quickly among bankers and brokers: was this a sign that Nomura’s latest bid to break into U.S. league tables is unraveling? After all, it has pulled back from the U.S. before.

  • Apr 1, 2011
    9:30 AM

    Deals of the Day: It’s Here — Nasdaq, ICE Bid for NYSE

    Deals of the Day gathers all the biggest news of the morning related to mergers and acquisitions, bankruptcies, financing and private equity. Deal Journal’s homepage is You can see real-time updates of our posts and our favorite deal-related articles on other Web sites through our Twitter feed at

    Mergers & Acquisitions

    Nasdaq goes all in: Nasdaq and IntercontinentalExchange launched an $11.3 billion bid for NYSE Euronext, topping a rival offer from Deutsche Börse. Nasdaq would get stock markets in the U.S. and Europe, while ICE would get the derivatives business. [WSJ]

    Telesat: The Canadian satellite company is weighing takeover offers from EchoStar and Carlyle, and may decide on a possible sale in the coming days. [Bloomberg]

    Terra Firma: The PE firm run by Guy Hands is putting the Odeon & UCI cinema chain up for sale in a deal likely to be valued at between £700 million and £1 billion ($1.1bn-$1.6bn). []

    Mentor Graphics: The chip-design software maker rejected Carl Icahn’s offer of a $220 million loan and said it plans to go ahead with a convertible debt offering. [Reuters]


    TPG: Private-equity powerhouse TPG Holdings has reached a deal to sell nearly 5% of itself to sovereign-wealth funds operated by Kuwait and Singapore. [WSJ]

  • Apr 1, 2011
    8:21 AM

    Nasdaq-NYSE Deal: Translating the News Release

    Stock exchange operator Nasdaq OMX Group has a long list of reasons why its rival bid for the New York Stock Exchange is waaaay better than a takeover offer from the Germans at Deutsche Börse.

    Deal Journal has translated the Nasdaq/ICE news release to bring you what the companies probably meant to say, if they weren’t handcuffed by corporate jargon and lawyers.

    1) The joint Nasdaq/ICE offer for the NYSE, “Offers greater long-term value for stockholders by putting existing businesses under managements recognized for integration capabilities and efficiency.”

    Translated: Do you really trust foreigners and Duncan Niederauer, the current NYSE Euronext CEO and the proposed CEO of a combined Deutsche Börse-NYSE, to handle a big and important integration of major global finance centers?…

About Deal Journal

  • Deal Journal is an up-to-the-minute take on the deals and deal makers that shape the landscape of Wall Street, including mergers and acquisitions, capital-raising, private equity and bankruptcy. In short, wherever money changes hands. Deal Journal is updated throughout each trading day with exclusive commentary, analysis, data, news flashes and profiles. The Wall Street Journal’s Shira Ovide is the lead writer, with contributions from other Journal reporters and editors. Send news items, comments and questions to

  • Mean Street is Evan Newmark’s opinionated, often contrarian view on the fascinating, never-ending folly of business and Wall Street. Click here for his current and archived columns.

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