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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...
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