Typically, I wouldn't be this descriptive because I really have no interest in being "outted," but this is too juicy not to share, mostly because its such a privelege to work with some of the luminaries in the business. Starting Wednesday, a group of private equity and hedge funds, including Icahn Partners, and Sub Rosa started taking a strong position in the public stock of the NYSE. We've worked with certain members of management and it looks like a significant transaction (or a lot of shareholder activism) is around the corner for the NYSE. Look for press releases Monday.
Activism like this is a dangerous and exciting thing. The poor NYSE hasn't even had a private moment to get off its feet after the IPO yet but the mistakes there have been real enough to leave a wide opening for a player who wanted to worm in.
I only found out myself after a good bit of the discussions had already taken place. Like most such transactions, the entire thing was done with great secrecy. If I was feeling left out it was a temporary and fleeting notion, and if you had asked me three or four months ago if I would be working today on a transaction this significantly sized or with the likes of Carl Icahn I would have counted you crazy.
Love is a dangerous thing. I am totally in love with my job.
Stay tuned. More details below.
