H-P deal pushes JPMorgan to top of table

Thu, 15 May 2008 06:59:58 -0400

After the Microsoft-Yahoo nondeal rewrote the league tables for the year, here comes another big technology deal with big implications for the standings. The New York Times notes that JPMorgan Chase, by dint of its role in advising Hewlett-Packard in its $13.3 billion takeover of EDS, has inched to the top of the table. It edged out Goldman Sachs, which might have stayed on top if its client had Yahoo ended up in a deal. Don't be surprised if Goldman ends up back on top. One big deal would do the trick. Still, this is rare air for JPMorgan and yet another feather in the cap of Jamie Dimon. Hewlett also retained Lehman Brothers, while Electronic Data hired Citigroup and Evercore Partners, the Times notes.

For more:
- here's the article from the New York Times

Citigroup reaches out to... HP?

Wed, 23 Apr 2008 06:59:57 -0400

Hewlett Packard to the rescue? Vikram Pandit, CEO of Citigroup, is reaching out to HP executives for insight into how to stand firm in the face of investor pressure to spin off key assets. The talk seems to be on IT issues, and how they can stitch various units into something whole. HP, of course, went through something similar when Mark Hurd became CEO. He resisted pressure to spin off the PC-making group. Just as Pandit is under pressure to spin out portions of the Citi empire. So will Hurd, at some point, join the Citigroup board? It's unclear if the two CEOs have met face to face, but clearly, Pandit is not above seeking advice wherever he can get it.

For more:
- here's the Financial Times article