The Real Reason Goldman And JPMorgan Missed Out On The Google-Motorola Deal

hockey check

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Goldman Sachs and JPMorgan were left out of Google’s blockbuster $12.5 billion acquisition of Motorola Mobility because the banks fight too much, the New York Post reports.At the beginning of the year, the two banking giants were working with Motorola when the company decided to split itself into two-publicly-traded companies: Motorola Mobility for cell phones and Motorola Solutions which sells bar-code scanners and police radios.

During this deal the two banks apparently fought, causing Motorola Mobility to bar them both from the recent sale to Google the Post reported, citing an unnamed source.

Because they couldn’t play nice during the earlier Motorola deal, the banks are likely losing $20 million each in fees in the recent Google acquisition of Motorola Mobility, the Post reported.

Instead, Motorola Mobility selected boutique banks, Centerview Partners and Qatalyst Partners, as its deal advisers.