Big firms miss out on biggest deal of the year

The biggest banks on Wall Street were shut out of the biggest deal of the year.

The New York Times reports that the merger of Kraft and H.J. Heinz will create a company with a market value in excess of $75bn.

But JPMorgan, Bank of America, Citigroup, Goldman Sachs and Wells Fargo will not get a slice of the millions of dollars in fees generated from the deal. Nor were any of the major international banks like Credit Suisse, Deutsche Bank, Barclays or UBS involved with the deal.

Instead, two independent investment banks served as the sole advisers to Kraft and Heinz.

Centerview Partners, a small advisory firm, was the lone adviser to Kraft. Lazard, a publicly traded bank with a broader range of services, was the exclusive adviser to Heinz.

To access the complete New York Times article hit the link below:

Biggest Banks Absent From Biggest Deal of Year

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