How Do Joint-Bookrunners Prevent From Crossing Lines on Outreach
Simple, newbie question here. I do almost exclusively private company sell-sides at a tiny little boutique.My interest is how the outreach process works out when you have something like 10 different bookrunners all taking an allocation in a public Stock/Bond offering. How do you prevent from each bank shopping the deal to the exact same people in an embarrassing manner? Another curiosity I have is on the marketing materials side. In a joint-bookrunner deal will the co-managers just use the CIM created by the lead arraigner? As in some guy from Jefferies or Piper is sending a CIM with BofA's logo on it to their buyside contacts???
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