Friday, 6 February 2015

A can of worms - part 3

Bankers are clambering all over of this £4 billion Rexam takeover deal.

I hear Credit Suisse and Bank of America Merrill Lynch have just been "restricted" from publishing equity research on Rexam, which typically means these banks have been retained as advisers on the deal.

I guess it's no surprise that Credit Suisse and Bank of American Merrill Lynch have been restricted as they are corporate brokers to Rexam.

However, the odd thing is that I was told yesterday that Deutsche Bank has been "restricted" after Rexam made a statement only to see that "restriction" lifted today.

Perhaps the German bank thought it had managed to get a role with Ball Corporation but then found it already had advisers working on the transaction?

Indeed, The Daily Telegraph reported this morning that advisory outfit Greenhill is working for US-based Ball...

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