*This is a nickname given to him by the neighborhood kids, not a description.

Investment banks working on 21st Century Fox’s aborted $70bn bid for Time Warner are counting the cost of the deal’s failure, having missed out on a $420m fee bonanza. If the deal had progressed, transaction advisory fees of $170m would have been split between Goldman Sachs and Centerview, which were advising 21st Century Fox, and Citibank, which was advising Time Warner, according to several people familiar with the matter. John Nallen, 21st Century Fox’s chief financial officer – and the financial architect of the now expired proposal – brought in JPMorgan, Goldman Sachs, and Deutsche Bank to handle the debt financing. They were working on a $25bn bridging loan – one of the largest ever takeover loans – and would have shared additional fees of up to $250m had the deal succeeded, the people added.

Banks miss out on $420m in fees [FT]

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Comments (10)

  1. Posted by guest | August 6, 2014 at 3:59 PM

    headline excellence and mouseover made me lol.

  2. Posted by Guest | August 6, 2014 at 4:01 PM

    I'm sure he will blame it on Obama. He looks like he smells like a combination of Nilla wafers and mothballs and has 3 unwrapped butterscotch candies in his jacket pocket. Old decrepit bastard.

    Lloyd is probably drawing up the contract on him right now, he's going to use Gasparino's people for it.

  3. Posted by guest | August 6, 2014 at 4:12 PM

    1. he definitely will blame it on obama.
    2. thank you for perfectly articulating my thoughts on what he looks/probably smells like!

  4. Posted by judgesmails | August 6, 2014 at 4:16 PM

    Now that you mention it, I plan on smelling like scotch, cigarrettes and baby wipes when I'm that age. Maybe a hint of aXe, too…

  5. Posted by Rupe Murdy | August 6, 2014 at 4:51 PM

    "here, let me dip my balls in vegemite for you."

  6. Posted by J. Shazar | August 6, 2014 at 5:08 PM

    Why would Rupert Murdoch smell like my special friend from the playground?

  7. Posted by Guest | August 6, 2014 at 5:45 PM

    Is it that excellent? Is it really?

  8. Posted by guest | August 6, 2014 at 5:58 PM

    yes. any other questions?

  9. Posted by guest | August 6, 2014 at 5:58 PM

    DB sets the standards for headlines.

  10. Posted by Cartier Salesgirl | August 7, 2014 at 3:16 PM

    Sorry you have to return your watch since you spent the commission before it got paid. On a plus side, this guy is putting my kids through college the way he spends money on our new adult diaper products.