Advisers working on the mega-merger between the London Stock Exchange and data provider Refinitiv are set to bag £835million in fees.
Bankers, lawyers and brokers will all be flush with cash in one of the biggest paydays in UK deal-making history.
The likes of Goldman Sachs, Morgan Stanley, Robey Warshaw, Barclays, RBC Capital Markets and law firm Freshfields Bruckhaus Deringer will be raking in the cash after advising the LSE on the deal.
Fess bonanza: Advisers working on the merger between the London Stock Exchange and data provider Refinitiv are set to bag £835m in fees
Refinitiv, which is owned by Thomson Reuters and investment giant Blackstone, will be handing out cheques to firms including Evercore, Canson Capital Partners and Jefferies.
But the total fees will fall short of the £1.5billion paid to advisers when brewer AB Inbev bought rival SAB Miller in 2016.
The enormous payout was detailed as the £20billion merger between the LSE and Refinitiv finally nears completion.
The deal was first announced in summer 2019, but has taken months to work through as regulators comb through the details.
The LSE hopes its combination with Refinitiv, best known among City traders for its terminal screens, will make it a major player in the increasingly valuable financial data market.
Accountants at mid-tier firm BDO may have been looking at the LSE advisers’ fees with envy, as they took a double-digit hit to their pay. After the pandemic disrupted business, their average share of profit before tax slumped 14 per cent to £518,000 for the year to June 30.