Candidate Bloomberg mulls the cost of selling his business


Candidate Bloomberg mulls the cost of selling his business

With an enterprise value of $50bn, the blockbuster deal would come with all sorts of conflicts of interest

Wall Street loves Michael Bloomberg. And it may go beyond shared values. Bloomberg’s vast fortune is fuelling his rise in the Democratic primary polls. But conflict of interest concerns are forcing him to think about the future of his financial data empire, Bloomberg LP.

Bloomberg’s camp said he would be willing to part with the business he built should he move into the White House. With an enterprise value of perhaps above $50bn, a sale would be one of the blockbuster deals of all time.

Bloomberg LP would be a perfect fit for a consortium of sovereign wealth funds, huge financial sponsors, and even traditional asset managers such as BlackRock. They all want to put billions to work for several years and are willing to accept returns below the 20%-25% of traditional private equity buyouts...

This article is reserved for Sunday Times Daily subscribers.
A subscription gives you full digital access to all Sunday Times Daily content.

Sunday Times Daily

Already subscribed? Simply sign in below.

Questions or problems?
Email or call 0860 52 52 00.

Next Article