Business Spectator takes a stab at estimating the fee earned by investment banks and advisers in the course of the takeover by Wesfarmers of Coles Group, a deal waved through by Coles shareholders yesterday.
The new news service, on the basis of reported and guesstimated fees (derived from disclosure documents) suggests the fee total is in the order of $390 million before success fees, which might add another $100 million or so, they speculate. This puts transactions costs at about 0.5 per cent of the bid's value.