Shareholder Advising vs. Advising Company during M&A?

imthelord's picture
Rank: Baboon | 162

What is the difference between advising the shareholders in a deal vs. advising a company in a deal? I was reading a Bloomberg article on the T-Mobile/Sprint merger and saw the following statement:

"T-Mobile was advised by PJT Partners and Deutsche Bank, while Goldman Sachs advised the company and its controlling shareholder Deutsche Telekom. Morgan Stanley also helped Deutsche Telekom and Evercore advised T-Mobile's committee of independent directors. Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, and RBC are providing T-Mobile with committed debt financing."

Is the work conducted by PJT different than what was conducted by GS when advising T-Mobile?

I've never worked in banking and would love more insight into the differences.

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Apr 30, 2018
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