An award-winning journalist and New York Times best-selling author, David Faber is a co-anchor of CNBC's "Squawk on the Street" (M-F: 9 a.m.-12 p.m. ET) and an anchor and co-producer of CNBC's acclaimed original documentaries and long-form programming.
During the day, Faber breaks news and provides in-depth analysis on a range of business topics during the "Faber Report." In his 20 years with CNBC, Faber has broken many big financial stories including the massive fraud at WorldCom, the bailout of the hedge fund Long Term Capital Management and Rupert Murdoch's unsolicited bid for Dow Jones.
Faber has reported nine documentaries for CNBC for which he has received Loeb, Emmy, Peabody and duPont awards.
His book, "The Faber Report," was published by Little, Brown in spring 2002; his second book, "And Then the Roof Caved In," was published in the summer of 2009 by John Wiley.
He holds a bachelor's degree in English from Tufts University.
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Earlier this week Dynegy Energy was down 22 percent, but now the stock will be up very sharply with the $4.50 per share in cash deal, which represents a 62 percent premium to the closing share price on August 12. The total value of the deal is $4.7 billion—this includes existing debt
Barnes & Noble released a statement saying, they were "unable to conclude an agreement on mutually acceptable terms" with one of its top investors', Ronald Burkle and his holding company— specializing in private equity investment—Yucaipa.
If Genzyme is amenable to what Sanofi's bid letter sets out, serious negotiations may soon follow and the contents of that letter more than likely won't be made public. On the other hand, if things go in a different direction, everything could get a bit more nasty.
One possible scenario for Avis, which is far smaller than Hertz and also smaller than the company it is seeking [Dollar Thrifty] is for it to counter with the upcoming bid. While Avis is poised to give it a shot, it’s still a long one that it will come out of this winning the war.
The very large French pharmaceutical company made an informal acquisition approach to Genzyme. That approach was essentially rebuffed and not met with any significant talks, according to people familiar with the matter. However, especially in recent days, talks have been heating up.