Lazard Reportedly Held Talks To Be Acquired By ADQ: Report
Portfolio Pulse from Lekha Gupta
Lazard Ltd (NYSE:LAZ) reportedly held acquisition talks with Abu Dhabi's sovereign wealth fund ADQ earlier this year, but negotiations fell apart after both sides withdrew from the deal. Lazard recently announced the appointment of Peter R. Orszag as the new CEO, effective October 1, 2023.
June 20, 2023 | 1:58 pm
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Lazard held acquisition talks with Abu Dhabi's ADQ, but negotiations fell apart. The company recently appointed a new CEO, effective October 1, 2023.
The news of Lazard's acquisition talks with ADQ could have generated interest in the stock, but since the negotiations fell apart, the impact on the stock price is neutral. The appointment of a new CEO may have a positive effect on the company's future, but it is not directly related to the acquisition news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100