Advisers to Comcast, Time Warner Cable May Split $143 Million
JPMorgan Chase & Co. (JPM), Barclays Plc and Centerview Partners LLC are among firms that may split as much as $143 million for advising on Comcast Corp. (CMCSA)’s purchase of Time Warner Cable Inc. (TWC)
Comcast agreed to buy Time Warner Cable for $45.2 billion in stock, combining the two largest U.S. cable companies. JPMorgan, Paul J. Taubman, head of PJT Capital LLC, and Barclays may receive as much as $68 million for working with Comcast, according to New York-based research firm Freeman & Co. Morgan Stanley, Allen & Co., Citigroup Inc. and Centerview may split as much as $75 million advising Time Warner Cable, Freeman said.
Morgan Stanley (MS) is the top adviser on mergers and acquisitions this year including the Comcast-Time Warner Cable transaction with 20 deals valued at $115 billion, data compiled by Bloomberg show. The New York-based investment bank also worked with Suntory Holdings Ltd., the closely held Japanese whiskey and beer maker, on its $16 billion takeover of Beam Inc. in January.
JPMorgan is ranked second, with 25 deals worth $113 billion, and Centerview is third with seven transactions valued at $88 bllion, the data show.
Goldman Sachs Group Inc. led M&A advising last year, working on 349 deals valued at $559 billion, including Liberty Global Plc’s acquisition of Virgin Media Inc. for $23.3 billion including debt, announced last February.
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