Biotech Values

[DewDiligence]

Xmas came early for bankers in ACT-AGN deal:

http://www.wsj.com/articles/BL-MBB-31241

J.P. Morgan Chase & Co. represented Actavis, which swooped in and saved Allergan from a protracted hostile takeover battle with Valeant Pharmaceutical International. For its work, J.P. Morgan’s bankers earned $65 million in fees… That payout…ties the $65 million Morgan Stanley earned for advising Wyeth on its $68 billion sale to Pfizer in 2009.

Meanwhile, Allergan’s bankers, which spent more than six months fighting off Valeant this year, earned $112.2 million in total with Goldman Sachs Group and Bank of America Merrill Lynch each taking home $56.1 million.

DealPoint Data adds together the amounts being paid to each bank to count them as the single largest fee for an M&A target’s advisers in its database.