M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

Tuesday, January 5, 2010

Levin: Yeah...sorry about that...

"I presided over the worst deal of the century, apparently."

Gerald Levin and Steve Case on CNBC two days ago.  At least he recognizes that where the blame for that deal should lie.  This was actually a very reflective discussion about the complications of doing big deals and responsibility in the C-Suite following the financial crisis. 

Steve Case made an interesting comment when thinking about the AOL/TW deal.  He said that AOL/TW might have been better off if the managements of both companies were swept out and the combined company were run by an entirely new management team.   Much like a new administration sweeps out the old every four years in DC.  AOL/TW might have been better off if the board got rid of the incumbent managers on both sides and hired a new set of hands to manage what was a new company.  That's an interesting concept that will no doubt be unpopular.  This segment is worth watching if you have the time.



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