Deals
With M&A Hit, Wall Street Bankers Keep Busy With Stock Sales
- Sanofi-Regeneron deal latest offering of historic size
- Rare area of dealmaking that has held up year-over- year
Sanofi has launched a $13 billion sale of its 21% stake in Regeneron Pharmaceuticals Inc.
Source: Regeneron Pharmaceuticals Inc.
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Wall Street bankers are a lot less busy these days, what with the pandemic-induced drop-off in mergers and acquisitions and initial public offerings.
But there’s a gritty, less glamorous dealmaking realm that has held up, and it’s helping banks offset some of that lost M&A and IPO revenue. A variety of companies, looking for liquidity in the weak economy, are selling off big stakes they’ve long held in public corporations.