IB Fee structure for all stock merger

What have people seen as fee structures for sell-side bankers managing an all stock merger (60/40 relative size) in the mid-market ($100-200mil)? For a typical sell-side, it's 2-3% paid in cash at close, but not sure that makes sense in an all stock merger, where there is no liquidity for the seller. 

2 Comments
 

Fee is generally the same, companies will indicate if they are comfortable taking stock or not and are aware of the implications with fees when doing so. Also, $100-$200 mm transactions may have public buyers which allows for greater liquidity by selling stock easily.

 

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