Thursday, April 22, 2010

centurytel

Who are the Advisers on the CenturyTel-Qwest Deal?
If CenturyTel’s $10.6 billions acquisition of Qwest Communications has you feeling nostalgic for those big telecom deals of yesteryear, we can’t blame you.

Not only is the price-tag big, but unlike many recent deals, it isn’t directly related to the financial crisis. Nope, this is a good old-fashioned strategic deal.

Also, take a look at the long list of advisers. Everyone from bulge bracket M&A shops to boutiques to white shoe law firms will be getting a slice of the fees. And yet this morning’s news release about the deal left one adviser off the list: Perella Weinberg, which advised the Qwest board. Perhaps it was all the excitement or they simply ran out of room.

Barclays Capital, Evercore Partners and J.P. Morgan Chase advised CenturyTel. Wachtell, Lipton, Rosen & Katz and Jones Walker Waechter Poitevent Carrere & Denegre LLP were the company’s legal advisers.

Lazard, Deutsche Bank and Morgan Stanley advised Qwest. Skadden, Arps, Slate, Meagher & Flom and Wilmer Cutler Pickering Hale & Dorr provided legal advice.

It’s like the good old days are back–even if it is just for a day.

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