End of Poolings of Interest Could Slow Mergers but Help Financiers
Tarquinio, J. Alex, American Banker
LONDON -
Commercial bankers may not like the possibility that pooling-of-interest accounting for mergers will be eliminated, but the move could create a money-raising boomlet for securities firms.
Banks and other companies planning mergers would, under a proposed accounting change, be required to lay out more cash up front. That, in turn, would mean more loans, bond issues, and other financings, experts said.
Lewis W. Coleman, chief executive officer of Bank of America Corp.'s securities affiliate, NationsBanc Montgomery Securities LLC, said in an interview here that much of the additional financing business will go to securities firms aligned with banks. …
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Publication information:
Article title: End of Poolings of Interest Could Slow Mergers but Help Financiers.
Contributors: Tarquinio, J. Alex - Author.
Magazine title: American Banker.
Volume: 164.
Issue: 92
Publication date: May 14, 1999.
Page number: 1.
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COPYRIGHT 1999 Gale Group.
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