Wall St firms stand to make $316m in fees from Monday's deals

Money Roll

The five Wall Street banks that advised on $100bn of takeovers announced Monday by Halliburton and Actavis could reap as much as $316m in fees for their work.

Bloomberg News reports that Goldman Sachs and Bank of America will take home the lion’s share of that, with roles on both the $34.6bn purchase of Baker Hughes by Halliburton, and the $66bn acquisition of Allergan by Actavis.

Goldman Sachs was the sole adviser to Baker Hughes, while Bank of America and Credit Suisse advised Halliburton. The three banks are set to receive as much as $143m in total, Freeman said.

Halliburton, the second-biggest oilfield services provider, agreed to buy No. 3 Baker Hughes, taking advantage of plunging crude prices to set up the biggest takeover of a U.S. energy company in three years. Actavis’s deal to acquire Allergan, meanwhile, will help the target rebuff a hostile approach from Valeant Pharmaceuticals International.

To access the complete Bloomberg News article hit the link below:

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