Evercore to acquire ISI

Evercore Partners (NYSE:EVR) will acquire ISI and the 40% of Evercore's Institutional Equities Business that Evercore does not already own. In an email to clients, Mark Schoenebaum, head of ISI's healthcare research, said he will continue to focus on biotech and pharma research, but will "likely now have to 'vet' companies for investment banking transactions."

Ed Hyman, chairman and founder of ISI, will become vice chairman of Evercore. Hyman also will chair the combined equities business, which will be run by an executive committee including ISI President Vinayak Singh and Charles Myers, head of Evercore's Institutional Equities business. ...