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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (1121)	3/5/2006 9:06:29 PM
From: richardred	Respond to of 7248

Megamerger brings Wall Street payday Lehman, Citigroup, Goldman to gain from $67 billion deal E-mail \| Print \| RSS Feed \| Disable live quotes By Jonathan Burton, MarketWatch Last Update: 8:15 PM ET Mar 5, 2006 SAN FRANCISCO (MarketWatch) -- The $67 billion combination of telecommunications giants AT&T Inc. and BellSouth Corp. will shower millions of dollars in fees on five investment-banking firms with established ties to the companies. Lehman played a significant role, capitalizing on a previous banking relationship with AT&T, BellSouth and Cingular Wireless, the largest U.S. mobile-telecommunications operator. Sunday's news also should solidify Goldman Sachs' position as the world's No. 1 merger and acquisition dealmaker, based on data from Thomson Financial, a unit of Thomson Corp. In addition, the BellSouth sale would give a strong boost to the M&A units of No. 5 Citigroup and No. 7 Lehman Brothers. Evercore and Rohatyn were part of an earlier landmark transaction involving AT&T and BellSouth. The two investment bankers advised Cingular Wireless in its $47 billion of AT&T Wireless Inc. that closed in October 2004 -- a deal in which Lehman Brothers played a lead role. The Cingular deal propelled Evercore and Rohatyn into the ranks of the world's leading merger and acquisition advisers, according to Thomson. (Evercore advised Dow Jones & Co. in its November 2004 acquisition of MarketWatch, the publisher of this report.) Lehman also was a pivotal adviser in that transaction to Cingular's parent companies, BellSouth and SBC Communications Inc., which merged their wireless operations in 2001. SBC retained 60% control of the resulting joint venture, while BellSouth owned the remaining 40%. In late 2005, SBC acquired AT&T Corp. and took the AT&T name. After the BellSouth acquisition is finalized, AT&T would completely control Cingular. End of Story marketwatch.com