April 24 - Deal Journal Blog (WSJ) - Deals are like blueberries: when the big ones get picked off, you can usually find masses of little pale delicious ones in the shade on the lower branches of the bush.
It is the little blueberries of the M&A world that constitute what Wall Street calls “the middle market,” and it includes deals valued from $50 million to $500 million–though at the biggest investment banks, like Goldman Sachs Group and UBS, that range can go as high as $1 billion. And when things get rough, as they are now, Wall Streeters expect those little blueberries to make up a nutritious and filling pie full of rich, buttery fees for their firms. Goldman Chief Executive Lloyd Blankfein even said in late 2006 that the firm would look to work on more midsize deals. Read More.
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