Can someone explain the difference, as in (from Dealbook today): " GlobeOp’s independent directors are being advised by Evercore Partners, while the company’s corporate brokers are Bank of America Merrill Lynch and Espirito Santo."
What is the difference here between Evercore and BAML? It reads like BAML shops the company around and Evercore independantly tells the director whether the offers BAML receives are up to snuff. Is this right? Is it common to have two different firms serve the two roles and if so why?
