(Reuters Breakingviews) - In college, Michael Bloomberg joked he would be Americ...
Democratic U.S. presidential candidate Michael Bloomberg addresses a news conference after launching his presidential bid in Norfolk, Virginia, U.S., November 25, 2019. REUTERS/Joshua Roberts
Bloomberg can place his business in a trust, as he did when he was mayor. The current Oval Office occupant put the Trump Organization in a trust and stepped away from overseeing operations. Yet Bloomberg is challenging Trump for “reckless and unethical actions” representing an “existential threat.” Convincing voters that he’s a different kind of billionaire requires taking the higher road.
That limits the universe of potential buyers. Private equity firms could try to emulate Blackstone’s $20 billion purchase of Bloomberg rival Refinitiv from Thomson Reuters, the parent of Breakingviews. They’d need to band together in a so-called “club deal” to raise enough money, which they might be willing to do if it meant owning Wall Street’s elite provider of financial data.
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