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BLOOMBERG NEWS Goldman's Fee in Energy Deal: $20 Million | Goldman Sachs is set to collect a tidy $20 million fee for advising the El Paso Corporation in its sale to Kinder Morgan, a deal that would create the nation's biggest natural gas pipeline network, Bloomberg News reports.
That did not stop JP Morgan taking its generous fee for advising on the deal.
William Rucker, chief executive of Lazard, said the bank received a £1.5m fee for advising the Government on the privatisation.
The money has been described as a fee for advising Olympus on the 2008 takeover of a British company, the Gyrus Group.
Instead, the judge highlights how Goldman was fighting for every dollar, securing a $20 million fee for advising El Paso on the sale while depriving Morgan of an assignment on a possible spinoff.
The money has been described as a fee for advising on the 2008 takeover of a British company, but the amount was more than 30 times the norm on Wall Street.
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Investment bankers who collected fees for advising AT&T to set up the tracking stock then got more fees for advising it to dispense with the structure.
Some of the issues, like Dai-Ichi, are going to be giant, generating fat fees for advising banks.
The company collected about $3.4 million in fees for advising the pension fund in the state's last fiscal year.
Merrill Lynch, for example, reportedly earned $75m in fees for advising on the buy-out of HCA, an American hospital operator, helping to underwrite $22 billion in bank loans.
Lazard, the investment bank run by Bruce Wasserstein, more than doubled its profits for the third quarter this year, buoyed by sharp gains in its fees for advising on deals.
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