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Non-Tech : Goldman Sachs Group Inc. NYSE:GS -- Ignore unavailable to you. Want to Upgrade?

To: J. Arzente who wrote (157)	7/12/1999 9:18:00 AM
From: Mohan Marette	Respond to of 411

You mean IPO for The Hull Group? If so,we don't know yet,should know something later on, with in the next day or so.

To: J. Arzente who wrote (157)	7/12/1999 9:41:00 AM
From: Mohan Marette	Respond to of 411

Goldman to buy market-maker Hull for $531 million NEW YORK, July 12 (Reuters) - Top investment bank Goldman Sachs Group (NYSE:GS - news) said on Monday it plans to buy Chicago-based electronic market-maker The Hull Group for $531 million in stock, options and cash, to bolster its position in electronic stock trading. Goldman and other Wall Street firms have been investing in electronic stock trading systems that would compete with the traditional U.S. exchanges. Hull Group, which had planned to sell shares to the public in July, is an electronic market-maker in stock derivatives and stocks on 28 exchanges and in nine countries. biz.yahoo.com

To: J. Arzente who wrote (157)	7/14/1999 11:18:00 AM
From: Mohan Marette	Respond to of 411

Goldman's Hull Deal: A Leg Up in "Technology-Driven Markets" The firm's first acquisition as a public company rounds out its traditional strength in human traders Most people think Goldman Sachs Group went public earlier this year so that its employees could get enormously rich by cashing in their Goldman stock. But Goldman went public for another, equally important, reason: to make acquisitions with stock. Sure enough, on July 12, the Wall Street firm announced its first purchase. Goldman is buying Hull Group for $531 million, mostly in Goldman stock. Chicago-based Hull makes markets for securities on 28 electronic stock markets, which are mostly outside the U.S., including France, Germany, Switzerland, Hong Kong, and Japan. "This takes us to the cutting edge of electronic market making," says Robert Steel, who heads Goldman's equity division. The acquisition is the latest proof of Goldman's aggressive strategy to both exploit its expertise in markets that still rely on human traders, such as the New York Stock Exchange, and take the lead in new markets that rely more on computers to execute trades. "We've always been the best or among the best in market making, where it is a people-driven business," says Steel. "In technology-driven markets, now we will have the same skills. No other firms in our position will have both." MINORITY STAKES. This isn't the first time Goldman has invested in an Internet or electronic trading firm. Until now, Goldman has opted to make minority investments in six such firms. Goldman has a 22% stake in Wit Capital, an Internet investment bank; about 25% of Archipelago; a Chicago-based electronic communications network; a piece of Brut, another ECN; Primex, a pricing engine for listed securities; Optimark, an options exchange; and Tradepoint, a British firm. Goldman will run Hull as a wholly owned subsidiary in Chicago, and virtually all Hull employees will get Goldman stock, in order to integrate the two firms. Goldman expects to learn more about electronic market making from Hull. What was it like for Goldman to make its first acquisition as a public company, after advising other companies on acquisitions from the sidelines for over a century? It went pretty smoothly because "we had a good investment banker working for us," jokes David Vinier, Goldman's chief financial officer. businessweek.com By Leah Nathans Spiro in New York