AT&T is buying Time Warner for a whopping $107.50 per share, or $85.4 billion.
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.