Summary
IT'S not immediately apparent, but there is an interesting connection between three of this week's more noteworthy events - Scottish Power's decision to sell its American generator, the move from Cazenove to Morgan Stanley of Nick Wiles, one of its more high- profile advisers, and the final act being played out at the Deutsche Borse AGM in Frankfurt.
In an age when investment banks have grown bigger and more powerful than their clients, the thread is the re-emergence of the focused independent adviser. MidAmerican, the buyer of Scottish Power's Pacifi-Corp business and a firm that is part of the Warren Buffett empire, did not take advice on doing the deal from the usual suspects like Goldman Sachs or Merrill Lynch.See the full content of this document
Extract
Welcome Rebirth of the Advisers ; City Comment
It relied instead on a firm few in this country will have heard of, Houlihan Lokey Howard Zukin.
What is even more astonishing - given that MidAmerican is based in Idaho, PacifiCorp in Por...See the full content of this document
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