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 used their sector expertise and personal relationships with company executives to win the biggest deal of the year so far, the merger of H.J. Heinz Co and Kraft Foods Group Inc. Terms of the deal, announced on Wednesday, value the combined company at $106 billion including debt.Lazard shares rose as much as 2.8 percent on Wednesday.Lazard and Centerview were the only investment banks advising the two companies on the deal. Lazard could earn as much as $66 million in fees and Centerview could earn as much as $97 million, consulting firm Freeman & Co estimated.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management company. Shares of GS fell by 2.05% or $-3.93/share to $187.35. 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 2541159.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM fell by 1.41% or $-0.85/share to $59.61. 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 14938543.
Kraft Foods Group, Inc. is a consumer packaged food and beverage company. Shares of KRFT traded higher by 35.62% or $21.84/share to $83.17. 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 99888934.
Lazard Ltd (Lazard) is a holding company. Lazard is a financial advisory and asset management company. Shares of LAZ traded higher by 2.21% or $1.12/share to $51.90. 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 1569878.
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