Chanticleer
‘It’s bad’: The 9.23pm moment ANZ’s $2.5b deal crumbled
Eight years after ANZ’s infamous equity raising, the 163-page judgment shows how Australian deals get done. And it isn’t pretty.
Updated
Hedge funds screaming down the phone, 2.26am emails to the client, threats about defaulting on trades, bankers pulling in all sorts of directions, billions of dollars at risk and a late night “Oh, f---” moment.
Welcome to the high-octane world of investment banking and a rare look inside a vexed $2.5 billion deal.
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