Some of Wall Street's top boutique firms just landed a big payday

Business Insider | 5/9/2017 | Frank Chaparro
iVchan (Posted by) Level 3
Click For Photo: http://static3.businessinsider.com/image/5910884569e69af23b8b460a-1190-625/some-of-wall-streets-top-boutique-firms-just-landed-a-big-payday.jpg

Two big-name deals announced Monday are set to line the pockets of numerous boutique investment banks.

The luxury retailer Coach said in a statement that it agreed to buy Kate Spade for $18.50 a share, for a total transaction value of $2.4 billion. And Sinclair Broadcast Group confirmed that it had agreed to buy Tribune Media for about $3.9 billion, or $43.50 a share.

Deals - Payday - Handful - Boutique - Investment

The deals represent a big payday for a handful of boutique investment banks.

Two New York-based investment banks, Moelis & Company and Guggenheim Securities, worked with Tribune, while JPMorgan was Sinclair's financial adviser in the acquisition deal.

Win - Moelis - Company - Guggenheim - Moelis

It represents another win for Moelis & Company and Guggenheim. Moelis, a boutique investment bank, just announced its second record quarter in a row. The company said last month that it was looking for top-tier talent to add to its roster.

Guggenheim recently advised Zeltiq on its $2.5 billion sale to Allergan, a deal in which Moelis was advising the buyer. It also advised...
(Excerpt) Read more at: Business Insider
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!