Tuesday, June 22, 2004

Merrill Lynch dropped from Google IPO

Times Online - Business

The Google IPO was in the news again. First the firm ammended its prospectus to warn that the Dutch Auction process they are using may result in a stock price decline after the issue.

The second interesting story is that they dropped Merrill Lynch from the IPO syndicate. Why? Officially no one is saying, but the speculation is that ML's computer system was unable to do what the people at Googlle wanted (supposedly to make sure enough shares were going to individual investors).

BTW Recap of Google IPO story is here

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