Fresh Prince wrote:
And a hearty lol at the notion of lenders and their advisors being also-rans after with $60+bb on the line.
Sounds like a noob.
Perhaps you don't understand the meaning of the word "ancillary". No doubt a $60 billion financing, the largest in history, is real. There's a reason that Wachtell lists more finance lawyers on the deal than corporate lawyers. But being counsel to the banks is nowhere near the role that being deal counsel is. Giving the same league table credit to the banks' counsel as to the deal counsel is a bit of a joke. Though, admittedly, nowhere near the joke of giving the same league table credit to the financial advisors' counsel. Giving league table credit on a $130 billion deal for negotiating an engagement letter and drafting a fairness opinion is absurd.
Edit: from enibs - didn't intend for this to be anonymous.