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

Sarah Jacobs

Two big-name deals announced on Monday will line the pockets of a number of 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 has agreed to buy Tribune Media for about $3.9 billion, or for $43.50 per share.

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 advisor in the acquisition deal.

It’s 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 is now looking for top-tier talent to add to its roster.

Guggenheim recently advised Zeltiq on its $2.5 billion sale to Allergan, a deal where Moelis was advising the buyer. It also advised Allergan on its $2.9 billion deal for LifeCell in December and Verizon on the $3.6 billion sale of 24 data centers to Equinix.

Coach’s financial advisor in its acquisition of Kate Spade was Evercore Group, a New York-based bank. Meanwhile, Kate Spade & Company’s financial advisor was Perella Weinberg Partners, another New York-based financial services firm.

Evercore earlier this year advised Takeda on a $5.2 billion deal for Ariad Pharmaceuticals. And Perella Weinberg has a strong run in recent weeks, working on Beckton Dickinson’s $24 billion deal to acquire the medical technology company Bard, and advising Cardinal Health in a $6.1 billion deal with Medtronic.

More from Frank Chaparro:

• Some of Wall Street’s top boutique firms just landed a big payday
• Shake Shack is churning out new stores, but there are still some issues (SHAK)
• The incredible life and career of Warren Buffett, the billionaire every investor looks to for inspiration
• CREDIT SUISSE: 7 takeaways from a big Goldman Sachs report about business in Q1 (GS)
• CREDIT SUISSE: There are 3 reasons to be optimistic about Dunkin’ Donuts (DNKN)

NOW WATCH: A Tesla bull makes his case: ‘We think it’s real …. it’s a good car. That’s not a fluke’

Please enable Javascript to watch this video

Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.

✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2pYzucS

(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!