Bankers advising pharmaceuticals companies Pfizer and Britain's AstraZeneca are likely to miss out on $260-340 million in fees after the U.S. company's final takeover bid was rejected on Monday.Pfizer's sweetened 70 billion pound ($118 billion) offer was dismissed by AstraZenaca as being too low and the U.S. group is expected to announce by Monday that it will now abandon its move to create the world's biggest drugs group.The U.S. company's advisers at JP Morgan, Bank of America Merrill Lynch and Guggenheim Securities are likely to be the biggest losers, with a source familiar with the situation saying that Pfizer is unlikely to pay any fees.Pfizer has not yet discussed the matter with its banks and is expected to follow its policy of not paying any consolation fees, the source said.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 1.04% or $-0.153/share to $14.52. In the past year, the shares have traded as low as $12.13 and as high as $18.03. On average, 100290000 shares of BAC exchange hands on a given day and today's volume is recorded at 36291232.
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