Lazard Ltd and Centerview Partners LLC have only a fraction of the staff and resources of their larger investment banking brethren, such as Goldman Sachs Group Inc and JPMorgan Chase & Co. Yet the independent investment banks won the biggest deal of the year so far, the merger of H.J. Heinz Co and Kraft Foods Group Inc, using their sector expertise and personal relationships with company executives.Lazard and Centerview were the only investment banks advising the two companies on the deal announced on Wednesday. Lazard could earn as much as $66 million in fees and Centerview could earn as much as $97 million, according to estimates from consulting firm Freeman & Co.Lazard has a long-standing relationship with Brazilian private equity firm 3G Capital Partners LP, the co-owner of Heinz along with Warren Buffetts' Berkshire Hathaway Inc. Centerview has worked previously with both Kraft and Heinz.Large banks tout their financing capabilities as well as their prowess in areas ranging from currency hedging to treasury management in order to win big M&A assignments.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A fell by 0.11% or $-229.0/share to $216776.00. In the past year, the shares have traded as low as $181785.00 and as high as $229374.00. On average, 300 shares of BRK-A exchange hands on a given day and today's volume is recorded at 269.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B fell by 0.28% or $-0.4/share to $143.89. In the past year, the shares have traded as low as $121.09 and as high as $152.94. On average, 3687790 shares of BRK-B exchange hands on a given day and today's volume is recorded at 1639334.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management company. Shares of GS fell by 1.7631% or $-3.3724/share to $187.91. In the past year, the shares have traded as low as $151.65 and as high as $198.06. On average, 2640710 shares of GS exchange hands on a given day and today's volume is recorded at 1000356.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM fell by 0.96% or $-0.58/share to $59.88. In the past year, the shares have traded as low as $52.97 and as high as $63.49. On average, 18056500 shares of JPM exchange hands on a given day and today's volume is recorded at 6547683.
Kraft Foods Group, Inc. is a consumer packaged food and beverage company. Shares of KRFT traded higher by 37.01% or $22.69/share to $84.02. In the past year, the shares have traded as low as $53.33 and as high as $87.88. On average, 2992940 shares of KRFT exchange hands on a given day and today's volume is recorded at 67028288.
Lazard Ltd (Lazard) is a holding company. Lazard is a financial advisory and asset management company. Shares of LAZ traded higher by 1.97% or $1.0/share to $51.78. In the past year, the shares have traded as low as $43.12 and as high as $55.50. On average, 890162 shares of LAZ exchange hands on a given day and today's volume is recorded at 576366.
Source
