Robert Teitelman, the editor of The Deal, writes about reporting on mergers and acquisitions for the past decade as part of the publication’s 10-year anniversary.
“There were two unsettling critiques of our little scheme in fizzy 1999. The first was execution. How could you yahoos report what you claim readers want and need? This stuff is complicated. We’re smart; you’re not. Well, we did: From Deal Memos to deal structures to scoops to increasingly sophisticated analysis, though it wasn’t necessarily fast or ever easy. Second, and more important, was conceptual. Who cared? How rich was this dealmaking vein? Why would buyout mavens want to read the same stuff as venture capitalists or investment bankers? And what made you think you’d have anything to report when the economic temperature plunged and dealmaking flat-lined?
“Today, some of these objections seem silly, even anachronistic, which helps explain why we’re still here. There is a commonality of interests among our constituents, even if they didn’t always recognize it; it really was an information-hungry community that extended across far-flung functional and geographic areas. Dealmaking was the common thread; it’s how everyone got paid.”
Read more here.
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