Home / ENTERTAINMENT / Finance: WALL STREET PAYDAY: Banks could earn $85 million from $7.8 billion Northrop deal (NOC, C)

Finance: WALL STREET PAYDAY: Banks could earn $85 million from $7.8 billion Northrop deal (NOC, C)

celebration

Boutique investment bank Perella Weinberg and Citigroup will share in as much as $85 million in fees for advising on the Northrop deal.

Two Wall Street banks are set to earn a big payday from defense contractor Northrop Grumman's $7.8 billion acquisition of rocket manufacturer Orbital ATK.

Independent investment bank Perella Weinberg Partners and Citigroup will share in as much as $85 million in fees for advising on the deal, according to Jeffrey Nassof, director of consulting firm Freeman & Co.

Northrop will pay Perella Weinberg an estimated $30 million to $40 million, according to Nassof.

Citigroup will make an estimated $35 million to $45 million for advising Orbital, which generates $4.5 billion in revenue thanks to lucrative contracts with NASA and the Army.

The deal is expected to close in the first half of 2018 and will create a company on pace for a combined $30 billion in sales in 2017.

About Prince Idowu Oyewumi

FULL NAME : PRINCE MUHAMMED S. OYEWUMI BIO.: Graphics Designer, I.T Expert & Photograaphy Expert Edu Qual. Bsc, Diploma, Nim Follow us Twitter: @mdee_coded Facebook: @https://www.facebook.com/pxclusive/ Instagram: @mdee_Cool Tel.: +2348085570405

Check Also

DJ Olu’s Death: Davido Hype man Reacts To Dj Olu’s Death

Below are what davido hype man said about Dj olu death “Davido official hypeman “spesh” …

FALSE NEWS::: TSTV Have not start recruiting 

TSTV posted this news article about the firm recruiting PUBLIC NOTICE!!The attention of TStv Africa …

Leave a Reply

Your email address will not be published.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