Investors will spend the coming months analyzing how well Sanofi-Aventis and Genzyme investors made out in their big merger pact. But there's one group of players who will come out as clear winners no matter what happens next. Reuters reports that the banks which bellied up to the bargaining table alongside Sanofi and Genzyme will make off with about $125 million in fees.
Evercore Partners and JP Morgan allied themselves with Sanofi, reportedly earning $50 million to $60 million in fees for their sage advice. And Genzyme's bakers, Goldman Sachs and Credit Suisse will garner an estimated $53 million to $65 million. Goldman also reportedly held a 6.8 percent stake in Genzyme, which should net a fat gain for the firm.
Morgan Stanley may also make out from the deal. Reports indicate that Sanofi quietly hired that firm as well. And BNP Paribas and Societe Generale helped arrange $15 billion in loans to push the deal through.
- here's the story from Reuters