Mergers and acquisitions (M&A) have long been a money-spinning business for investment banks, generating millions of dollars in fee revenue per deal. Now, banks' trading businesses want a slice of the action.
In the past two years, an M&A boom has seen dealers flock to offer so-called deal-contingent foreign exchange hedges to companies making cross-border takeovers. These allow the purchaser to hedge the forex rate on the transaction, but if the deal fails, the forward is extinguished and the c
The week on Risk.net, July 7-13, 2018Receive this by email