Deals
It's 2006 Again for Ex-Millennium Trader Sniffing LBO Excess
- Ex-Millennium trader set up fund to benefit from rising stress
- TDC’s leveraged buyout is echo of similar deal before crisis
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For trader Georges Gedeon, it’s just what he’s been waiting for: a debt-laden buyout like he saw on the eve of the global financial crisis.
Danish phone company TDC A/S is being taken over by a group of pension funds -- a deal that’s likely to push its investment-grade rating to junk, according to Bloomberg Intelligence analyst Aidan Cheslin.