The two investment banks that worked on the $19 billion Facebook acquisition of popular messenger app WhatsApp could make more than $US80 million in advisory fees, according to preliminary estimates.
Dealbook reports that M&A advisory firm Freeman Consulting Services estimates that Facebook’s advisor Allen & Co. could make $US32 to $US41 million.
Morgan Stanley, the bank that advised WhatsApp, could make between $US35 and $US45 million, according to Freeman’s calculations.
Morgan Stanley’s co-head of global technology banking Michael Grimes — who lead Facebook’s problematic initial public offering — was the banker who helped advise WhatsApp on the sale, according to Dealbook.
Business Insider Emails & Alerts
Site highlights each day to your inbox.