No AT&T/T-Mobile Deal Means Goldman (GS) Still M&A King (T)
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Goldman Sachs is loving the AT&T (NYSE: T) and T-Mobile deal being on haitus. Why's that?
Because they're not involved in the deal.
Unlike rivals JPMorgan (NYSE: JPM) and Evercore Partners (NYSE: EVR) which will likely split reduced fees of $6.5 million (from the $65 million expected) in advising AT&T. Credit Suisse (NYSE: CS), Deutsche Bank (NYSE: DB), and Morgan Stanley (NYSE: MS) might get about $6 million, another one-tenth of the expected.
Goldman is getting nil, and the potential antitrust argument against the deal would put a smile on CEO Lloyd Blankfein's face that stretches ear to ear. Goldman, who chose to advise Sprint on a possible takeover of T-Mobile, would be jettisoned into the number one spot among takeover advisors, with $346.8 billion this year, according to Bloomberg data.
Conversely, the WSJ reported data from Dealogic which shows Goldman staying atop the charts in either case, at $492.76 billion, but JPMorgan, in second place, could see it's M&A tally be either $406.65 billion without the deal, or $445.65 billion with the deal.
It would be a sweet decision for Goldman, who held the top spot in M&A advisory fees every year from 2001 to 2008, according to data.
Because they're not involved in the deal.
Unlike rivals JPMorgan (NYSE: JPM) and Evercore Partners (NYSE: EVR) which will likely split reduced fees of $6.5 million (from the $65 million expected) in advising AT&T. Credit Suisse (NYSE: CS), Deutsche Bank (NYSE: DB), and Morgan Stanley (NYSE: MS) might get about $6 million, another one-tenth of the expected.
Goldman is getting nil, and the potential antitrust argument against the deal would put a smile on CEO Lloyd Blankfein's face that stretches ear to ear. Goldman, who chose to advise Sprint on a possible takeover of T-Mobile, would be jettisoned into the number one spot among takeover advisors, with $346.8 billion this year, according to Bloomberg data.
Conversely, the WSJ reported data from Dealogic which shows Goldman staying atop the charts in either case, at $492.76 billion, but JPMorgan, in second place, could see it's M&A tally be either $406.65 billion without the deal, or $445.65 billion with the deal.
It would be a sweet decision for Goldman, who held the top spot in M&A advisory fees every year from 2001 to 2008, according to data.
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