Episode 21: Inside the M&A Press with Bloomberg's Alex Sherman

Insider Sourcing

Alex Sherman emphasizes the importance of sourcing information directly from those involved in M&A transactions. He explains that indirect sources, such as rival executives or traders, are not reliable enough for Bloomberg to publish a story. This rigorous standard ensures the accuracy and credibility of their reports 1. David Rosenthal adds that understanding the news cycle of M&A deals is crucial for readers to grasp why stories are published when they are 2.

You don't understand the way Bloomberg sourcing is done. I'm not getting this information from traders. It doesn't work that way.

--- Alex Sherman

   

Lifecycle of Stories

The lifecycle of an M&A story involves several steps from receiving a tip to publishing the final piece. Alex Sherman explains that most stories are published based on when the information is gathered and verified, with only a minority having strategic timing 3. He also discusses the importance of reacting to competitors' stories and the impact on stock prices 4.

The goal is to provide value to a Bloomberg subscriber that's trading on information.

--- Alex Sherman

   

Story Nuances

Understanding the nuances in M&A reporting can reveal much about the sources of information. Alex Sherman highlights how the structure and bylines of a story can indicate where the information originated 5. He also notes that the timing of a story's release often depends more on logistical factors than strategic ones 6.

There's a lot of inside baseball things that you would never know to look for unless you're talking to a reporter.

--- Alex Sherman