Skip to main content

How Could Comcast Do This To Goldman Sachs?

The bastards apparently only thought of themselves and not of Lloyd and Co. when they walked away from the deal.
  • Author:
  • Updated:
    Original:

There are people out there with even more reason to mourn the demise of Comcast’s $45 billion deal for Time Warner Cable out there than TWC’s customers: Bankers, who are going to have a hell of time covering the $380 million they won’t be making anymore.

Charter’s bankers at Goldman Sachs Group Inc. would miss the biggest fee pot, though the outcome will also sting other big banks and a handful of so-called boutiques.

The deal’s demise would also reshuffle the rankings of M&A advisers known as “league tables.” J.P. Morgan Chase & Co., a Comcast banker, would drop from second to third in Dealogic’s 2014 U.S. tables by dollar volume of deal assignments, while Skadden, Arps, Slate, Meagher & Flom LLP, lawyers for Time Warner Cable’s independent directors, would drop from first to third. Davis, Polk & Wardwell LLP, which advised Comcast, would drop outside the top 10.

Advisers Could Lose $380 Million in Comcast-TWC Fees [WSJ]

Related

venezuela-lloyd-2

Goldman Sachs Already Profiting From Venezuela’s Pain

Lloyd Blankfein & co. add some moral hazard to their amoral bond deal.

200west

Compensation Watch ’21: Goldman Sachs First Years

Goldman has done very well. Goldman’s kiddies? Maybe less so.

Looking To Run A Major American Bank? Look For Something Else.

Jamie, Lloyd, Jim, and Brian aren't going anywhere.

Jamie Dimon Candidate

Bonus Watch ’21: Goldman Sachs and JPMorgan Chase

D-Sol and Dimon are getting in the holiday spirit.

200west

Goldman Acknowledges Extremely Virulent Disease Spreading Across The Globe, Is Pretty Sure It’ll All Be Over In Two Weeks

Which is when you will be back at your desks, goddamnit, epidemiology notwithstanding.