DJIA39760.08 477.75
S&P 5005248.49 44.91
NASDAQ16399.52 83.82
Russell 20002116.20 44.40
German DAX18475.06 75.83
FTSE 1007931.98 1.02
CAC 408204.81 20.06
EuroStoxx 505082.75 17.40
Nikkei 22540762.73 364.70
Hang Seng16392.84 -225.48
Shanghai Comp2993.14 -38.34
KOSPI2755.11 -1.98
Bloomberg Comm IDX98.31 -0.37
WTI Crude-fut85.88 0.20
Brent Crude-fut81.35 -0.26
Natural Gas1.69 -0.02
Gasoline-fut2.69 0.01
Gold-fut2217.80 5.60
Silver-fut24.56 -0.13
Platinum-fut908.10 -1.80
Palladium-fut1002.00 6.50
Copper-fut399.40 -1.60
Aluminum-spot1815.00 0.00
Coffee-fut188.40 -2.25
Soybeans-fut1188.25 -4.25
Wheat-fut547.00 -0.50
Bitcoin70641.00 1575.00
Ethereum USD3585.86 110.25
Litecoin95.55 0.42
Dogecoin0.20 0.01
EUR/USD1.0814 -0.0015
USD/JPY151.42 0.09
GBP/USD1.2635 0.0016
USD/CHF0.9057 -0.0003
USD IDX104.69 0.32
US 10-Yr TR4.222 0.026
GER 10-Yr TR2.316 0.024
UK 10-Yr TR3.965 0.035
JAP 10-Yr TR0.716 -0.006
Fed Funds5.5 0
SOFR5.32 0.01

Connect Money In Your Inbox.

Sign up to get the most important news on the business of financial services delivered daily.

Sub Markets

Property Sectors

Topics

Direct Investment  + M&As  | 
Mizuho to Buy Boutique Investment Bank Greenhill for $550M

Mizuho to Buy Boutique Investment Bank Greenhill for $550M

Japan’s Mizuho Financial Group expanded its reach into US investment banking through a deal to buy M&A and restructuring specialist Greenhill & Co. in an all-cash transaction of $15 per share with an enterprise value of $550 million, including debt.

The offer price marks a 121% premium over Greenhill’s closing stock price on Friday, which was before the announcement of the merger. The company’s shares surged 116% on Monday to $14.65 following the announcement.

Greenhill Chairman & CEO Scott Bok will become chairman of the M&A and restructuring advisory business. Current Greenhill co-presidents Kevin Costantino and David Wyles will become co-heads of the business. The Greenhill business will sit within Mizuho’s banking division, led by Michal Katz, head of banking in the Americas.

“Greenhill is a proven industry leader, and its team has led many of the largest and most complex transactions for clients globally, across a wide range of sectors,” said Jerry Rizzieri, President and CEO, Mizuho Securities USA.

Robert Greenhill established the company approximately 30 years ago, and it was one of the first boutique M&A advisers to go public. Shares of the company have fallen off significantly since the IPO after initially surging, as Greenhill has been up against stiff competition from bigger investment banks and peers.

Japanese banks have been growing their operations in the US. While Mitsubishi UFJ and Morgan Stanley have a long-standing partnership, Sumitomo Mitsui Financial Group increased its holdings in Jefferies in April. Nomura purchased boutique Greentech Capital Advisors in 2019.

Connect

Inside The Story

Mizuho Financial GroupGreenhill & Co.

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

New call-to-action
New call-to-action