Gasparino: 50/50 Chance SEC Could Terminate Facebook, Goldman Sachs (GS) Deal
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Fox Business Network's Charlie Gasparino the deal between Goldman Sachs Group Inc. (NYSE: GS) and Facebook Inc. is "not a done deal."
Gasparino reports that the Securities and Exchange Commission is facing substantial pressure to scrutinize the deal.
“The SEC is telling sources close to FOX Business Network that they are under tremendous pressure to scrutinize this Goldman Sachs Facebook deal," Gasparino said. "What they are telling people is that this is not a done deal. Despite everything you are reading the paper, they haven’t given their blessing."
The report says the reason is the rule that allows a company to become public or stay private.
"There is a 50/50 chance this thing could get nixed. If they don’t nix this deal, they are going to do some rules in the future that could nix future deals. Even if it does go through, the SEC is going to clarify this public/private thing and how many investors you can put in there. From what I understand, they aim to make this the last deal of its time.”
Gasparino reports that the Securities and Exchange Commission is facing substantial pressure to scrutinize the deal.
“The SEC is telling sources close to FOX Business Network that they are under tremendous pressure to scrutinize this Goldman Sachs Facebook deal," Gasparino said. "What they are telling people is that this is not a done deal. Despite everything you are reading the paper, they haven’t given their blessing."
The report says the reason is the rule that allows a company to become public or stay private.
"There is a 50/50 chance this thing could get nixed. If they don’t nix this deal, they are going to do some rules in the future that could nix future deals. Even if it does go through, the SEC is going to clarify this public/private thing and how many investors you can put in there. From what I understand, they aim to make this the last deal of its time.”
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