Microsoft (MSFT.O) snubbed investment banks for its largest deal ever, saving an estimated $25 million to $30 million by not using an adviser on the $8.5 billion takeover of Internet phone service Skype. Skype's advisers, Goldman Sachs (GS.N) and JPMorgan (JPM.N), will split about $30 million to $35 million in fees, according to Freeman Consulting. Goldman Sachs declined to comment. JPMorgan was not immediately available to comment. The world's largest software company figured buying a private company could be done in-house, particularly one with a lead investor representing the full ownership. "We thought it made sense to go directly to Silver Lake which is what we did, and that seems to have worked out well," Microsoft Chief Executive Steve Ballmer told Reuters.
Microsoft Corporation is engaged in developing, manufacturing, licensing and supporting a range of software products and services for different types of computing devices. Shares of MSFT fell by 1.18% or $-0.305/share to $25.525. In the past year, the shares have traded as low as $22.73 and as high as $29.73. On average, 61470900 shares of MSFT exchange hands on a given day and today's volume is recorded at 66898512.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a bank holding and a financial holding company. Shares of GS traded higher by 0.47% or $0.7/share to $149.82. In the past year, the shares have traded as low as $129.50 and as high as $175.34. On average, 4781670 shares of GS exchange hands on a given day and today's volume is recorded at 1774891.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM traded higher by 0.82% or $0.37/share to $45.33. In the past year, the shares have traded as low as $35.16 and as high as $48.36. On average, 29593300 shares of JPM exchange hands on a given day and today's volume is recorded at 7973217.
Source
