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Goldman, Shut Out of ATT/Time Warner Deal, Pushes Apple to Bid

October 29, 2016

[Photo: LATimes]

 

Perhaps Goldman Sachs is suffering from 'M&A Advisor Remorse'. For the first time in quite a while, Goldman is on the sidelines in a major Wall Street merger deal - AT&T’s $85 billion agreement to acquire Time Warner. And so ...

 

Enter Apple's Tim Cook.  Goldman is reportedly trying to persuade the Apple chief to make a rival bid for Time Warner. In addition, Adrian Perica, who heads Goldman's mergers practice, has his staff 'beating the bushes' for acquisition targets.

 

It would not be a stretch of Apple to bid on Time Warner.  Cook’s company had expressed interest in buying tje media giant in the recent past, and there is some belief that judging from his comments this week, he will not let AT&T carry the day.On Apple's earnings call last Wednesday, he said:

 

“We are open to acquisitions of any size that are of strategic value, where we can deliver better products to our customers and innovate more. And so we look at a whole variety of companies, and based on that, we choose whether to move forward or not. But we’re definitely open, and we definitely look.”

 

“I would confirm that television has intense interest with me and many other people here. In terms of owning content and creating content.”

 

Stay tuned - no pun intended.