Financial Services Industry
Industry: Email Alert RSS FeedAway win for the Morgans. (Morgan Stanley and JP Morgan's consultancy services in the Sandoz and Ciba merger)
Banker, The, April, 1996 by Shearlock, Peter
US investment banks JP Morgan and Morgan Stanley have acquired the right to provide financial advisory services to the merger of Swiss drug firms Sandoz and Ciba to form Novartis. As a result, questions were raised on why the firms have not acquired the services of Swiss banks. However, the doubts were dispelled due to the outstanding performance of Novartis in the stock market. Company stockholders are expected to approve the merger in April 1996.
The US investment banks have trounced Swiss financiers by scooping the world's biggest merger - the $75 billion deal between drugs giants Sandoz and Ciba.
There are long faces among Swiss corporate financiers. The world's biggest merger - a $75 billion affair involving local drugs giants Sandoz and Ciba combining to form...
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