David Carnevali, a mergers and acquisitions reporter at Bloomberg News, writes on LinkedIn about the tactics of an M&A reporter.
Carnevali writes, “And why do certain reporters have bigger and better networks than others? Charm, knowledge, access to the best dining spots, being fluent on Knicks starting 5 are all qualities that will help a reporter build its rolodex of sources. But what it really comes down to is being trustworthy and helpful. The idea that a reporter is just the receiving end of a transaction in which confidential information is shared is a misconception.
“M&A reporters have a lot to offer to people on the other side of that transaction. It may be information gathered from other sources or access to opportunities such as participating in TV shows and being quoted in stories. It could also be introducing sources to one another or giving them intel leading to new business. Given these dynamics, it’s easy to understand why sources tend to elevate the trustworthy and helpful reporters over the others.
‘Yes, tips can come in through traders, placements or even a stroke of luck, but deals reporters can’t rely on those to be in the thick of things. To have real flow means to have deep connectivity within the advisory and corporate ecosystems as well as keep planting seeds to gain more access. It means giving before taking and it entails going the extra mile to produce the best story when you land something worth writing about. It also involves owning the story through its lifecycles and giving the best play possible to each new break. People will see that you care and will come back to you with next one.
“These relationships are two-way streets and for sources who engage with deals reporters, the sharing of information becomes just one part of that equation. Gone are the days when all the exclusives were going to the Journal because CEOs wanted to see their deals on the front page of the paper. People barely read hard copies anymore and for deals reporters, the playing field is more levelled.”
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