Bankers to Share a $220 Million Jackpot -- WSJ

By Nathan Becker and Ana Rivas

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (June 14, 2018).

Bankers advising AT&T and Time Warner breathed a sigh of relief after a judge blessed the companies' union Tuesday. That's because M&A advisers typically only get their considerable fees if a deal closes.

At stake is $220 million for all the banks that landed roles on the proposed deal, according to Dealogic: Perella Weinberg, Allen & Co., Citi, Morgan Stanley, JPMorgan and Bank of America. Bankers involved in a scramble of deal making around 21st Century Fox Inc. are vying for hundreds of millions in additional payments.

And that could be just the beginning of a windfall for Wall Street if the AT&T-Time Warner ruling unleashes a flood of transactions in the second half, as many expect. With $2.1 trillion of deals announced so far, 2018 is already pacing to be the biggest year ever for mergers.

Across the board, top M&A advisers are already well ahead of where they were at this time last year when measured by the dollar amount of deals.

Corrections & Amplifications The chart showing value of announced M&A deals has been modified to correct the data for "rest of year." An earlier version of the graphic incorrectly used annual totals for "rest of year." (June 13, 2018)

(END) Dow Jones Newswires

June 14, 2018 02:47 ET (06:47 GMT)

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