$85.4 billion was proposed as the unification of the two companies pushed the investment bank to the top this year for U.S. mergers and acquisitions activity. Currently the largest deal of 2016, AT&T will pay $85.4 billion to acquire the media giant Time Warner. This deal has a total value of $108.7 billion with Time Warner’s debt included.
This deal has put the total U.S. merger & acquisition to $1.23 trillion this year. Morgan Stanley has been involved in over 101 deals this year totaling $408.4 billion, beating JPMorgan Chase for first place. Chase has over 137 deals this year but at $399.9 billion.
JPMorgan, Bank of America Merrill Lynch, Citigroup, and Perella Weinberg Partners were part of the deal. JPMorgan, Bank of America, and Perella Weinberg advised AT&T while Bank of America and JPMorgan offered bridge financing. Sullivan & Cromwell and Arnold & Porter provided legal advice.
Morgan Stanley, Citigroup, and Allen & Co acted as financial advisors to Time Warner, while Swaine & Moore and Cravath acted as legal advisors.