Business

Verizon-AOL: Another Deal Without Big Banks

This April 7, 2013 photo shows the Verizon Studio booth at MetLife Stadium, in East Rutherford, N.J. (Mel Evans/AP Photo)
This April 7, 2013 photo shows the Verizon Studio booth at MetLife Stadium, in East Rutherford, N.J. (Mel Evans/AP Photo)

 

(Wall Street Journal) – Verizon Communications Inc.’s $4.4 billion all-cash acquisition of AOL Inc. is the latest example of a headline-grabbing deal getting done without the help of the big banks.

Instead of turning to one of the mega-banks for help on the transaction, Verizon tapped Guggenheim Partners and LionTree Advisors LLC, while AOL worked with Allen & Co. Dealogic says it’s the fifth-largest deal ever assembled without a bulge-bracket bank.

AOL Chief Executive Tim Armstrong told CNBC Tuesday morning that talks between the two parties started at Allen & Co.’s 2014 media conference held in each July in Sun Valley. Mr. Armstrong said AOL did not run an auction process.

Less than two months ago, private-equity firm 3G Capital Partners LP and Warren Buffett‘s Berkshire Hathaway Inc. announced a deal to merge their jointly owned H.J. Heinz Co. with Kraft Foods Group Inc. without involving any big banks. The transaction, valued at roughly $49 billion at the time, is the largest deal ever without any bulge-bracket bank advising on it.

READ MORE

Tags
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

Subscribe today for free and be the first to have news and information delivered directly to your inbox.


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker