The Pfizer-Allergan merger — a deal that would have been worth $160 billion — has officially been scrapped and it’s bad news for investment banks.
The two companies’ advisers could lose a combined $236 million in fees, according to Freeman & Co.
If the deal collapses, the banks may get 10% of that.
Goldman Sachs, Centerview Partners, Guggenheim, and Moelis had been advising Pfizer on the deal, while JPMorgan and Morgan Stanley were working for Allergan.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.