The massive AT&T-Time Warner deal could mean up to $390 million in fees for Wall Street banks
Mary Cybulski/Paramount Pictures
If completed, it would be the largest deal announced this year, and could make for a huge payday for the Wall Street banks advising the two companies.
The New York Times on Sunday reported that Perella Weinberg, Bank of America Merrill Lynch, and JPMorgan are advising AT&T on the buy-side, while JPMorgan and Bank of America Merrill Lynch are providing a $40 billion bridge loan.
Meanwhile, Allen & Co, Citigroup, and Morgan Stanley are advising Time Warner on the sell-side.
Here's what those firms could earn in fees, according to the consultant Freeman & Co.:
- AT&T buy-side advisory: $90-120m to advisory group (Perella Weinberg, Bank of America, JPMorgan)
- AT&T $40b bridge loan: $110-130m to arrangers (led by JPMorgan and Bank of America)
- Time Warner sell-side advisory: $110-140m to advisory group (Allen & Co, Citigroup, Morgan Stanley)
On Monday, four more acquisitions were announced, which together could provide an additional $200 million in advisory fees to Wall Street banks.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Foreign tourist arrivals in India will cross pre-pandemic level in 2024
- Upcoming smartphones launching in India in May 2024
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- Women in Leadership
- Rupee declines 5 paise to 83.43 against US dollar in early trade
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market