Monday, January 17, 2011

Goldman Blames Media Attention For Killing Off Its U.S. Facebook Offering

Both�The Wall Street Journal and The New York Times are�reporting this morning that Goldman Sachs has decided to limit its much ballyhooed private offering of up to $1.5 billion in Facebook shares to international investors only. The reason? SEC scrutiny, sparked by this January 2nd article in The New York Times announcing Goldman's $450 million investment and creation of a "special purpose investment" vehicle for Facebook. Arguably, as the Times article created a demand to get in on the private placement, it could effectively be viewed as solicitation by the SEC.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/QvKUzdlF8ZQ/

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