Bankers on Sanofi deal bag $125m KCS-content Share Show Comments ▼ whatsapp whatsapp Tags: NULL Advisers to the $20.5bn-plus (£12.75bn) Sanofi-Aventis takeover of US biotech firm Genzyme will walk away with an estimated $125m in fees, corporate finance house Freeman & Co said yesterday.Banking teams for both sides, which include JPMorgan and Goldman Sachs, will earn around $60m each for the nine months of work it took to close the deal.Sanofi’s lead financial advisers – New York-based Evercore Partners and JPMorgan Chase – will earn $50m-60m, while Genzyme’s bankers, Credit Suisse and Goldman Sachs, should take home $53m-65m. A further $120m of lending and M&A fees will be paid to JP Morgan and French banks BNP Paribas and Societe Generale, which arranged an estimated $15bn in loans for Sanofi, Freeman said.Paris-based Sanofi will pay $74 in cash per share plus a contingent sum dependent on Genzyme’s experimental drug Lemtrada.Evercore’s team included founder Roger Altman and senior managing director Francois Maisonrouge, who advised on Pfizer’s $68bn takeover of Wyeth in 2009. JPMorgan’s work was led by its vice chairman of investment banking, Robbie Huffines. The Credit Suisse team included vice chairman Scott Lindsay while Goldman’s side included managing director Marshall Smith. Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap Wednesday 16 February 2011 9:17 pm
whatsapp Tuesday 8 March 2011 8:51 pm whatsapp Share EU stress tests easier than 2010 THE European Banking Authority (EBA) yesterday began rolling out stress tests on 88 of the region’s banks, which together hold 65 per cent of EU assets.Europe has promised a more credible set of tests after only seven banks failed the last round in 2010 – none of them Irish, despite the subsequent nationalisation of the country’s remaining banks.However, the worst-case scenarios that the EBA will use for its tests, designed by the European Central Bank, are less severe than those used in the 2010 tests. It involves a 0.5 per cent fall in the euro area economy this year, and a 15 per cent drop in European equities – less harsh than the overall 20 per cent drop modelled in the 2010 tests. Markets were hoping that a rigorous process could force banks into raising capital by highlighting their exposure to real estate and sovereign debt crises. UK banks are expected to fare well, with PricewaterhouseCoopers’ Richard Barfield saying: “We would expect the results of this round of stress testing to reveal UK banks to be in a stronger position than in 2010.” The bank tests will be a key moment for the EBA, which was established in January, to prove its credentials as a regional regulator.Germany had been pushing for the results of the tests to remain private, but Spain and other states won an agreement to publish them. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com KCS-content Tags: NULL
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