Goldman Sachs on Tuesday reportedly not only won the top spot on the highly anticipated initial public offering but will take home as much as $20 million in fees should the IPO price at the top of its $17-to-$20 estimated range. It’s a lopsided deal in favor of Goldman GS -0.20% , according to a report on WSJ.com. No other underwriter will get more than $10 million in fees, according to the report.
The deal represents a massive vote of confidence in Goldman from Twitter’s TWTR 0.00% founders. They obviously looked past the firm’s dented reputation as a “vampire squid” of the mortgage markets in the crisis. GS.
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