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| With BellSouth out of the picture, there are few large acquisition targets left in the US telecoms sector |
The $67 billion merger of US telecommunications firms AT&T and BellSouth is the latest in a long line of jumbo telecoms link-ups in recent years. The deal itself is spectacular primarily because of its size. But one tantalizing detail in the long-running story lies in just who was advising buyer AT&T.
BellSouth, unsurprisingly, chose global institutions Goldman Sachs and Citigroup. AT&T also chose a global M&A powerhouse: Lehman Brothers. In addition, though, the firm used the advisory services of much-smaller boutiques Evercore Partners and Rohatyn to help guide it through the complicated structuring of the merger.
The deal has catapulted Evercore and Rohatyn to fourth and fifth place respectively in the US...
