AT&T’s blockbuster $84.5 billion takeover of Time Warner means many things — including rich fees for the bankers and lawyers who helped craft the deal. Last year, Perella Weinberg poached George H. Young III, a veteran telecommunications banker, from Lazard — and gained a close relationship with AT&T in the process. Mr. Young had advised the telecommunications company on its $48.5 billion takeover of DirecTV, as well as on many of the earlier deals that built the modern-day AT&T. Mr. Mehta and other Citigroup bankers helped defend Time Warner from an unwanted takeover bid by Rupert Murdoch’s 21st Century Fox. Fun fact: Allen & Company, Citigroup and Morgan Stanley also helped advise Time Warner Cable — important to note, a separate company — in its sale to a fellow cable operator, Charter Communications.

Source: New York Times October 23, 2016 02:36 UTC