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 ten 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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This week, TPG and Apollo are hoping to take Harrah’s public again in a $500 million IPO (initial public offering) that if priced at the midpoint of the range will value the company at about 15 years worth of this year’s EBITDA.
If anyone needed reminding the last couple of weeks have made it clear once again how hard it can be to pull off a hostile deal.
When BHP Billiton unveiled its hostile bid for Potash in mid August there were plenty of questions about whether it would succeed. But few of those questions centered on the factor that has doomed BHP’s efforts: the opposition of the Canadian regulatory authorities.
After getting two earnings reports in the media space in the last day, while it’s not clear there were not any significant worries uncovered, neither of the companies in question is having a good day in the stock market.
It is has become clear that until today shareholders of Wilmington Trust had no idea how bad things had gotten for the bank. Bad enough, in fact, that management chose to sell itself for roughly 43 percent below it's stock market value on Friday.
The two stories related to mortgages do not have a great deal in common, other than tracing their lineage to the home loans of dubious provenance that were doled out to anyone with a pulse between 2005-07 and quickly packaged up into securities and sold by Wall Street to accounts around the planet.
Airgas sent a letter to Air Products reiterating its opposition to the $65.50 offer. More importantly, it also stated that each of Airgas' ten directors think the offer is inadequate. This is significant because in a hotly disputed vote Air Products succeeded in replacing three Airgas directors.