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Mergers and acquisitions are back.
M&A bankers are set to split nearly $US330 million in fees from three megadeals announced over Sunday and Monday, according to consulting firm Freeman & Co.
These deals include a $US26 billion merger between telecom giants T-Mobile and Sprint; oil refiner Marathon’s acquisition of Andeavor for $US23 billion; and Wal-Mart’s sale of its UK grocery business Asda to Sainsbury for $US10 billion. Here’s the latest:
- IT’S OFFICIAL: T-Mobile and Sprint are coming together to form a $US146 billion new company to take on Verizon and AT&T
- Sprint’s Japanese owner cost itself a ton of money dragging its feet on the blockbuster T-Mobile merger
- WALL STREET PAYDAY: Dealmakers could pull in $US330 million in fees from takeover frenzy
- How Goldman Sachs, UBS, and more reacted to Walmart’s $US10 billion ‘Black Swan’ deal to sell Asda
- Walmart’s new $US10 billion dollar deal is facing a big roadblock
Elsewhere in deal news, investors are frustrated with Botox-maker Allergan – and its CEO says it’s “deep into the process” of figuring out what to do next.
WeWork has raised $US6.1 billion and pioneered the co-working movement – but it increasingly looks like it doesn’t understand commercial real estate. And DocuSign popped in its long-awaited IPO – now its CEO and CFO explain what’s next.
In related news, UBS has hired a top investment banker from Deutsche Bank amid a major ramp-up of its US dealmaking team.
In finance news, Morgan Stanley’s youngest bankers could be getting a 25% pay raise. And Goldman Sachs is battling to contain an outbreak of mumps on the trading floor. And a bunch of former KCG staffers have found a new home at Wall Street broker Instinet.
In markets news, Business Insider recently spoke with Tobias Levkovich, Citigroup’s chief US equity strategist, about what’s keeping investors complacent. You can read the full interview here. Elsewhere in markets news:
- US stock traders are setting themselves up for failure – and one Wall Street firm has pinpointed the scenario that could trigger a crash
- BANK OF AMERICA: Trading in the dollar is undergoing a huge shift – here are 8 reasons why you should be buying
- The Fed is downplaying a key recession indicator that’s flashing yellow – but some on Wall Street think ‘they are wrong again’
- GOLDMAN SACHS: These 14 companies are set to return the most cash to investors this year
And in crypto news:
- $US1.6 billion cryptocurrency exchange Coinbase has snagged a veteran trader from Barclays
- “The guardrails haven’t been found yet”: The execs behind a big Wall Street bitcoin partnership say crypto is still in its infancy
- Meet the 26-year-old ex-Googler who got $US133 million for a cryptocurrency startup that could replace money completely
- A hot crypto hedge fund keeps poaching talent from Goldman Sachs
Lastly, Jeff Bezos reveals what it’s like to build an empire and become the richest man in the world – and why he’s willing to spend $US1 billion a year to fund the most important mission of his life.
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