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Centerview Partners also advised Exxon, while Morgan Stanley and Bank of America secured advisory roles with Pioneer. A transaction of this size typically results in tens of millions of dollars worth of fees for advisory firms. The chairman of the firm, Tom Petrie, was a co-founder of Petrie Parkman and served a vice chairman at Bank of America before the current Petrie was created. Three of those - Andrew Rapp and Mike Bock in Denver, as well as Jon Hughes in Houston - have been with the firm since its days as Petrie Parkman. Reporting by Anirban Sen and David French in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Lucas Jackson, Goldman Sachs, Morgan Stanley, Centerview, LSEG, Petrie Parkman, Merrill Lynch, Tom Petrie, Petrie, Andrew Rapp, Mike Bock, Jon Hughes, Anirban Sen, David French, Nick Zieminski Organizations: Exxon, New York Stock Exchange, REUTERS, Petrie Partners, Natural Resources, Exxon Mobil, Goldman, Citigroup Inc, Pioneer, Centerview Partners, Bank of America, Seagen Inc, Pfizer Inc, Guggenheim Securities, Co, U.S . Department of Energy, Thomson, & $ Locations: New York, Dealogic . Denver, Bank, Saudi Arabia, Alaska, Denver, Houston ., Houston
Worldpay comprises the bulk of the FIS merchant business, which processes payments for companies. GTCR's offer prevailed over Advent International, another buyout firm that was also vying for the business, the sources said. If the negotiations conclude successfully in the coming days, FIS plans to keep a minority stake in the business, the sources said. FIS, which started in 1968 and serves big financial services corporations, has cut thousands of jobs since the review began. Chicago-based GTCR manages more than $35 billion in assets and invests across sectors, including financial services.
Persons: GTCR, Johnson, Kellogg, Shaw, Jana, Anirban Sen, David French, Milana, Greg Roumeliotis, Richard Chang Organizations: YORK, GTCR, Fidelity National Information Services, FIS, International, Financial Times, General Electric Co, Toshiba Corp, Jana Partners, Reuters, Black Knight Inc, Global, Service, Thomson Locations: Worldpay, Jacksonville , Florida, Chicago, New York
The deal talks went down to the wire, according to two sources familiar with the situation. Four bidders, including JPMorgan, made it to the final rounds of the auction on Sunday night, one of the sources said. The final deal, announced around 3:30 a.m., cements Dimon's reputation as one of Wall Street's most powerful bankers. JPMorgan started a process internally, which looked at various options for First Republic, including an acquisition, according to a source familiar with the matter. The auction dragged out through the night as the FDIC's advisors examined each bid on its merits, a source familiar with the matter said.
NEW YORK, May 1 (Reuters) - Fifth Third Bancorp (FITB.O) was one the banks that submitted final bids for First Republic Bank (FRC.N) on Sunday before it was sold to JPMorgan Chase & Co (JPM.N), people familiar with the matter said. PNC Financial Services Group (PNC.N) and Citizens Financial Group Inc (CFG.N) were the other final-round bidders for First Republic, Reuters has previously reported. Earlier on Monday, JPMorgan emerged as the winner of a weekend auction of First Republic Bank, in a deal that followed the troubled lender being taken over by the Federal Deposit Insurance Corporation (FDIC). Fifth Third and the FDIC did not immediately respond to a request for comment. Reporting by Anirban Sen and David French in New York Additional reporting by Saeed Azhar in New York and Peter Schroeder in Washington, D.C.
NEW YORK, March 16 (Reuters) - PacWest Corp (PACW.O) is in talks about a liquidity boost with Investment firm Atlas SP Partners, two people familiar with the matter said on Thursday, in the latest example of a U.S. regional bank exploring such an option in the wake of Silicon Valley Bank's failure. PacWest is considering a range of options to boost its coffers and there is no certainty that any deal will materialize, the sources said. The details of the liquidity boost that Atlas SP is discussing with PacWest could not be learned. Atlas SP and PacWest did not immediately respond to requests for comment. Reporting by Anirban Sen and David French in New York Editing by Greg RoumeliotisOur Standards: The Thomson Reuters Trust Principles.
PacWest is considering a range of options to bolster its coffers and there is no certainty that any deal will materialize, the sources said. The details of the liquidity boost under discussion could not be learned. PacWest shares jumped on the news of the discussions for a liquidity boost, rising 22% to $13.91 in afternoon trading in New York on Thursday, giving the bank a market capitalization of about $1.6 billion. Based in Los Angeles, PacWest is a community bank serving small and venture-backed businesses, primarily in California. It is not clear how much in deposits PacWest has lost in the U.S. regional bank crisis that has led to U.S. regulators taking over Silicon Valley Bank and Signature Bank (SBNY.O).
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