Deal of the Week: Ego Drives Dealmakingby and
Welcome to the first episode of Bloomberg's Deal of the Week Podcast!
Every week, host Alex Sherman, a Bloomberg mergers and acquisitions reporter, is joined by a colleague to discuss the most interesting and market-moving M&A news. That's followed by a discussion with an M&A expert, including bankers, lawyers, chief executives, public relations heads and professors, to explain today's deals and give insights into why past deals worked or fell apart.
In this first episode, Sherman and Bloomberg Managing Editor for Global M&A Jeff McCracken discuss why Marriott International Inc.'s $12.2 billion purchase of Starwood Hotels & Resorts Worldwide Inc. is just the tip of the iceberg in hotel consolidation. They also speak with University of Michigan Law School professor Erik Gordon, who explains why transaction volume this year is on a record-setting pace, even though most deals ultimately fail to create value. Hint: It's all about ego.