NMC scandal proves a boon for global advisers [FT.com - Mergermarket]
Moelis & Company Class A (MC)
Last moelis & company class a earnings: 4/22 04:15 pm
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Source: FT.com - Mergermarket
It took four decades for NMC to ascend from its humble origins as a small clinic founded by Indian entrepreneur BR Shetty to its pinnacle as a FTSE 100 favourite.It took less than four months for the success story of the largest private healthcare provider in the United Arab Emirates to sour after short-sellers questioned NMC’s debt and cash position last December. Angry denials quickly collapsed as an independent investigation triggered a series of damaging revelations that saw NMC admit evidence of fraud and more than $4bn of undisclosed debt.Earlier this month, NMC’s major creditor, Abu Dhabi Commercial Bank (ADCB), successfully applied to a court to place the London-listed business inadministration“Clearly something has gone very wrong with the management and oversight of this company,” said Judge Sebastian Prentis at the hearing.The unfurling scandal has been lucrative for consultants, with boutique investment banks coming in to advise the company’s management, shareholders and
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MC
News
- Moelis & Company (NYSE: MC) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating. They now have a $86.00 price target on the stock, up previously from $71.00.MarketBeat
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MC
Earnings
- 10/23/24 - Beat
MC
Sec Filings
- 12/4/24 - Form 4
- 12/4/24 - Form 4
- 12/4/24 - Form 4
- MC's page on the SEC website