Saul Sterman

GS and MS Dominion Buyout: Liar's Poker

Monica,

You took the words right out of my mouth. Phil’s take on this is totally incorrect, but I forgive him because this is not his field of expertise. You have to admit though that Phil’s writing style is very entertaining!

When COP acquired BR, I was convinced that they had overpaid for the asset. Time will tell if my calculations were correct, in the interim it is beginning to look like they knew what they were doing. On a one to one comparison, the Dominion deal looks slightly better.