Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 212.55
Bid: 212.45
Ask: 212.55
Change: 0.90 (0.43%)
Spread: 0.10 (0.047%)
Open: 215.00
High: 215.00
Low: 211.90
Prev. Close: 211.65
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Banks set to earn $143 mln in Comcast, Time Warner Cable deal fees

Thu, 13th Feb 2014 14:59

By Soyoung Kim

NEW YORK, Feb 13 (Reuters) - Comcast Corp's proposed $45.2 billion merger with Time Warner Cable Inc would generate as much as $143 million in investment bankingfees, providing a rare boon to Wall Street banks grappling witha dearth of large corporate takeovers.

JPMorgan Chase & Co, former top Morgan Stanleybanker Paul Taubman and Barclays, which togetheradvised Comcast, would split an estimated $51 million to $68million in advisory fees if the proposed deal goes through,according to estimates by Freeman & Co LLC.

Financial advisers to Time Warner Cable - Morgan Stanley, Allen & Company, Citigroup Inc and CenterviewPartners - are set to share $57 million to $75 million in fees,the estimates show.

However, a number of other banks backing a rival bidder,Charter Communications Inc, would likely miss out onthe several hundred millions of dollars in potential fees.

Because Charter's cash and stock offer for Time WarnerCable, unlike Comcast's all-stock bid, involved a largeborrowing, banks advising Charter could have earned more than$500 million in advisory and financing fees, according toFreeman & Co estimates in January.

Charter, which made a hostile $37.3 billion bid for TimeWarner Cable, was working with Goldman Sachs Group,LionTree, Guggenheim Securities, Bank of America Merrill Lynch, Credit Suisse Group and Deutsche Bank.

The proposed combination between Comcast and Time WarnerCable is this year's biggest transaction globally, and thelargest since Verizon Communications Inc's $130 billiondeal last year to buy out Vodafone Group Plc's stake inVerizon Wireless.

The deal is also yet another coup for Paul Taubman, who isadvising key corporate clients on his own after leaving MorganStanley in early 2013. The former co-head of Morgan Stanley'sinstitutional securities unit left the Wall Street firm after itbecame clear that Chief Executive James Gorman planned to choosehis long-time rival Colm Kelleher as the sole head of the unit.

Taubman was the No. 13 mergers adviser in 2013 globallythanks to his role advising Verizon on the buyout of the VerizonWireless stake, putting him ahead of entire banks such asEvercore Partners, Moelis & Co and Jefferies in thecoveted league table of financial advisers.

More News
14 Dec 2023 10:51

France's Credit Agricole to stop financing new fossil fuel projects

Vows to triple financing of renewable energy projects by 2030

*

Read more
12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

Read more
12 Dec 2023 07:16

BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.

Read more
7 Dec 2023 16:55

Director dealings: Barclays chair invests, York Holdings settles LSEG call options

(Sharecast News) - Nigel Higgins, the group chairman of Barclays, was on the buying side of the ledger on Thursday.

Read more
7 Dec 2023 15:35

IN BRIEF: Barclays Chair Nigel Higgins buys 200,000 shares

Barclays PLC - London-based consumer, business and investment bank - Chair Nigel Higgins buys 200,000 shares at GBP1.3867 each, worth GBP277,340, in London on Thursday.

Read more
5 Dec 2023 15:26

London close: Stocks mixed as investors mull fresh data

(Sharecast News) - London's financial markets finished with a mixed performance on Tuesday as investors considered key economic data and developments from both sides of the Atlantic.

Read more
5 Dec 2023 09:05

LONDON MARKET OPEN: FTSE 100 struggles after Moody's warning on China

(Alliance News) - London's FTSE 100 got off to a slow start on Tuesday, with miners falling amid fears for the Chinese economy, while Barclays shares fell after Bloomberg reported Qatar is trimming its stake in the lender.

Read more
5 Dec 2023 08:01

Qatar almost halves stake in Barclays

(Sharecast News) - Banking giant Barclays was in the red early on Tuesday after its largest shareholder made moves to offload roughly £510.0m in shares.

Read more
5 Dec 2023 07:48

LONDON BRIEFING: Ashtead in record half-year; tinyBuild cuts outlook

(Alliance News) - London's FTSE 100 is called to open lower on Tuesday, continuing a lacklustre start to the week, after tepid trade in New York overnight.

Read more
30 Nov 2023 09:57

Lloyds to shut 45 branches

(Sharecast News) - Lloyds Banking Group is to shut another 45 branches, it was confirmed on Thursday, as lenders continue to downsize their estates.

Read more
28 Nov 2023 15:40

Barclays axes 900 staff in "disgraceful" pre-Christmas move - UK union

(Alliance News) - Banking firm Barclays PLC is cutting 900 jobs in its UK business as it looks to slash costs in a "disgraceful" pre-Christmas move, trade union Unite has said.

Read more
28 Nov 2023 15:30

London close: Stocks slip after mountain of broker notes

(Sharecast News) - London's stock markets finished in the red on Tuesday as investors deliberated over the latest shop price data, as well as a deluge of broker notes.

Read more
28 Nov 2023 08:52

PRESS: Barclays eyes dropping quarter of investment bank clients - FT

(Alliance News) - Barclays PLC is exploring the possibility of dropping thousands of its investment bank clients - a quarter of its total - amid a strategic overhaul to bolster its bottom line and cut GBP1 billion of costs, the Financial Times reported on Tuesday.

Read more
28 Nov 2023 07:56

Barclays considers dropping thousands of investment banking clients - report

(Sharecast News) - Barclays is reportedly exploring a plan to drop thousands of clients at its investment bank as part of a strategic overhaul that is meant to boost profits and cut £1bn of costs.

Read more
28 Nov 2023 07:42

LONDON BRIEFING: Rolls-Royce plans disposals, sets out 2027 targets

(Alliance News) - Stocks in London are called lower on Tuesday, with a stronger pound likely to weigh on the FTSE 100.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.