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Kraft Deal Cements Wasserstein Legacy, Heralds Fees for Lazard

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SEALING A DEAL FROM THE GRAVE
"Kraft Foods Inc.’s takeover of Cadbury Plc seals the legacy of Bruce Wasserstein, the Lazard Ltd. dealmaker who died a month after Kraft Chief Executive Officer Irene Rosenfeld made her first bid in September," Bloomberg reports. "Kraft, the world’s second-largest food company, made its bid with help from a team of advisers led by Wasserstein, a pioneer of modern M&A and Lazard’s chief executive officer. Cadbury accepted a higher 11.9 billion-pound ($19.7 billion) bid from Kraft earlier today."

“This deal will be a monument to Bruce,” said Philip Keevil, a former Lazard banker who is now a senior partner at Compass Advisers LLP. “Bruce has always taken a view of, let’s get the client signed, make the bid and get him up to price.”
SOURCE:   Bloomberg

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