Bruce Wasserstein is planning to take Lazard public and buy out Chairman Michel David-Weill reported papers Monday. The former deal-maker from First Boston has been quietly negotiating a deal with David-Weill for months, reported the WSJ. On Friday, the pair revealed their plans for an IPO to their partners in a special meeting in Rock Center, according to the paper.
While Wasserstein has never been involved in the fund industry, he has been a major deal maker on Wall Street since the eighties. Besides his duties at Lazard, he has also made a play at becoming a publishing mogul, founding The Deal.
Like in any good Wall Street deal, their are aleady reports of jealous partners and high payouts. Read Bloomberg's coverage at the New York Times: Lazard Is Near a Public Offer, Executives Say
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