Pru bookrunners dismiss accusers after deal collapse
The collapse of Prudential’s $35.5bn acquisition of AIA and the withdrawal of its £14.5bn rights issue this week sparked a war of words between bankers in the syndicate, some of whom claim that the bookrunners should have done more to gauge investor appetite for the deal before launch.
A senior equity capital markets banker at one of the lead managers explicitly criticised the advice given to Prudential by the bookrunners of the deal, Credit Suisse, HSBC and JPMorgan Cazenove.
"The advice given by some of the most senior bankers at the bookrunners was comprehensively wrong," said the
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