Let’s stipulate that, in today’s world, practically any private equity deal rumor is at least somewhat credible. Just a few months ago, in the midst of The Great Bob Nardini Showdown, it was proffered as a way out for Home Depot (NYSE:HD) — current market cap $75 billion.
So when Bloomberg — an altogether more credible business information source than, say, London’s Sunday Express — reports that “US financier Edward Pastorini may lead a bid for Gold Fields Ltd (NYSE:GFI), the world’s fourth largest gold producer,” who’s surprised? Even less surprising, the stock promptly pops 10 percent.
But for a couple of things. As the excellent (Disclosure: Logrolling) FT Alphaville asked Tuesday, who the hell is Edward Pastorini? And why is his name an anagram of ‘Top Insider Award?’ Pending developments — including a change in Gold Field’s statement that it has not been approached — it’s time to congratulate someone on a splendid jape, and politely suggest that bored regulators take a look at some trading records. Unusual options activity after the jump.
Earth to Bloomberg: the Gold Fields bid story is a hoax
FT Alphaville Apr. 11 2007
Gold Fields May Receive Bid From Pastorini-Led Group
by Stewart Bailey
Bloomberg Apr. 11 2007