BREAKINGVIEWS-Morgan Stanley’s banking revival hits a Musk bump

Morgan Stanley
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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Stephen Gandel

NEW YORK, May 20 (Reuters Breakingviews) - The bank took its lumps backing the erratic tech billionaire’s whims. That’s why Goldman Sachs’ top spot on the $75 bln IPO of his rocket-maker SpaceX is a shock. It’s a plum job, and would have crowned boss Ted Pick’s progress in narrowing a dealmaking gap with his arch-rival.

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CONTEXT NEWS

SpaceX has selected Goldman Sachs as the top underwriter for its initial public offering, Reuters reported on May 19. The rocket-maker is looking to raise $75 billion at a valuation of $1.75 trillion, which would make it the biggest stock-market listing of all time, Reuters previously reported.


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