6 banks just lost more than $200 million on the Pfizer-Allergan collapse

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: This hidden subplot of ‘Game of Thrones’ spells out the real trouble for the Lannisters

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.