- Saturday, 11 July 2009
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Litigation is a machine which you go into as a pig and come out as a sausage - Ambrose Bierce, allegedly
Bust bankers oversaw AMD deal
AFTER REPORTING ON the AMD split into fab and fabless, we decided to look back at Mubadala Development Company’s initial investment in the chip firm to see if we’d missed anything.
Referring to the first time the Arabians flashed their oil dollars AMD’s way, a company press release from November 16th 2007 notes, "Merrill Lynch acted as financial advisor to AMD. Lehman Brothers acted as lead financial advisor to Mubadala and Morgan Stanley acted as co-financial advisor".
We wondered who AMD and Mubadala had turned to this time around, with Merrill and Lehman now dead and gone and Morgan Stanley now legally a commercial bank subject to federal oversight.
AMD told the INQ it didn’t want to talk about it, as it was going through a quiet, sulky period, but our sources at Mubadala were a virtual oasis of information. Confirming our suspicions that this deal has been signed and sealed for well over a month, a Mubadala spokesperson said that Merrill Lynch had financially advised AMD, Morgan Stanley had advised the AMD board and Mubadala had wisely switched to Barclays Capital.
Some might see it as a bad omen for the deal that AMD took finacial advice from a company which, after all was signed, promptly rolled over and died.
But seeing as this was AMD’s get out of jail free card anyway, the firm is probably just grateful it didn’t have to turn to Bail Bonds. µ
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That is what I expect from real journalists, thanks!

How about untieing some of the MAFIAA's connexions?
Merrill Lynch didn't die. It was bought by Bank of America, but it still acts as an advisor in various transactions. It's kind of what they do, you see. 

It's not like BOA would buy it then close it down. If they were going to close it down, why would they buy it?
The INQ is not somewhere people come to for financial news and theres a reason why. Based on this article its obvious that the author does not understand what is going on with all the financial companies mentioned in the article. Merrill is very much still alive and Morgan has no huge issues stopping it from dealing with AMD. Gotta read more than financial headlines to get news people. Also why should it matter who AMD dealt with before? All the companies had very skilled advisors and they were crippled due to bad market conditions as well as bad investments which are not necessarily made by the advisors. As a financial analyst I think AMD made a good decision both before and now especially with its crippled position versus Intel at the moment.
The Inq is obviously an extreme leftist friend which is another way of saying anti-american, communist, utopian dreaming idiots.
Being eaten up by the competition usually indicates your death. The carcass of Merrill Lynch will be picked apart by BoA at it's leisure.
You must be reading a different article to me...
For some reason there's an abundance of bail bondsmen there, unlike other bits of the Valley
"another way of saying anti-american, communist, utopian dreaming idiots."
There you have it people, having no america & being a communist = utopia
Finally some admittance right before the end, phew.