Management of Greenhill & Co liked to boast that its stock price hit an all-time high of nearly $100 per share in 2009 after the failures of Wall Street brutes such as Lehman Brothers and Bear Stearns. Unfortunately, others had also noted a changing of the guard.
In the following decade, several Greenhill copycats emerged while the boutique investment bank restrained its growth. Amid a 2010s deals boom, that caution proved mistaken. On Monday, Greenhill’s independence ended after 27 years as it announced its sale to Japan’s Mizuho Financial Group for an enterprise value of $550mn
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