Cole Haan and Warner Music Group postpone IPOs amid coronavirus uncertainty
Illustration: Aïda Amer/Axios
Cole Haan and Warner Music Group are postponing their initial public offerings, which had been scheduled to launch this week, per Reuters.
Why it matters: This reflects how coronavirus is causing deal market chaos, because of both pricing volatility and a growing aversion to in-person meetings. It also should serve as a reminder to companies like Airbnb that "open windows" aren't eternal.
The bottom line, via Reuters' Joshua Franklin: "Companies were rushing to complete their IPOs to beat the political uncertainty that traditionally dampens stock market debuts close to the U.S. presidential election in November. The coronavirus outbreak has now derailed such plans for many IPO hopefuls."
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