Investment bankers plant story in Bloomberg to drum up Apple’s M&A business
Terrific analysis by John Gruber
I cannot believe that Bloomberg published this story by Alex Webb and Alex Sherman, " Apple Struggles to Make Big Deals,…daringfireball.net
Gruber is spot on in every respect. The last thing Apple should do is allow outside investment bankers into their business. Many reliable studies show that mergers led by Wall Street investment bankers usually end up failing in the long term, or the merged companies end up worse off.
Investment bankers, like private equity firms, generally don’t care about the long term success of their customers. They care about making money for the bankers, whether it’s good for the customer or not. Most of the time, the investment banks win whether their customer wins or loses.
The time when your banker was a trusted fiduciary is long gone. If it ever existed.
And can you imagine the leaks? Letting outside investment banks into your business guarantees you won’t be able to keep your business secrets secret for long.