Tuesday, April 5, 2011

Goldman's April Fools Joke Is, Again, On Its Clients

Quick backdrop:  Texas Instruments agreed to acquire National Semiconductor at an 80% premium Monday, causing shares of National to soar approximately said 80%, while TI's shares declined after the announcement of the acquisition.  Yet, prior to the announced acquisition, Goldman Sachs' sell-side analysts were telling their clients to buy shares of TI, and to sell National.  Oops.  Honest mistake?  Perhaps.

Oh, and by the way, it gets better. Here is Goldman's disclosure in their coverage report:
Goldman Sachs is acting as financial advisor to National Semiconductor Corporation in an announced strategic transaction.
http://www.zerohedge.com/article/goldmans-april-fools-joke-again-its-clients

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