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Short Take: Goldman partners ratify plan to go public

Goldman Sachs' 190 partners have ratified a proposal to take the investment bank public, in a plan intended to chain key employees to the firm's fortunes for a long time, Reuters reported. Goldman's partners rubber-stamped the proposal for an October IPO, one of Wall Street's largest ever, which could value Goldman at $25 billion. The brokerage said it will file a registration statement with the Securities and Exchange Commission "later this summer."

Goldman Sachs' 190 partners have ratified a proposal to take the investment bank public, in a plan intended to chain key employees to the firm's fortunes for a long time, Reuters reported. Goldman's partners rubber-stamped the proposal for an October IPO, one of Wall Street's largest ever, which could value Goldman at $25 billion. The brokerage said it will file a registration statement with the Securities and Exchange Commission "later this summer."