Goldman Sachs, Morgan Stanley Face Off on Musk Bid for Twitter
- Wall Street’s top advisers are lined up for a potential payday
- Both banks have longstanding relationships with Tesla’s CEO
This article is for subscribers only.
Elon Musk’s unsolicited $43 billion offer for Twitter Inc. sets up a showdown between two of Wall Street’s biggest advisory shops, which could result in lucrative payouts for both if the biggest hostile takeover in years is successful.
Morgan Stanley is advising Musk, according to a filing Thursday, while Twitter has enlisted the help of Goldman Sachs Group Inc. as it considers how to respond to Musk’s hostile bid, according to people familiar with the matter. The pair often tussle for the top billing in the M&A rankings, with Goldman currently in the No. 1 spot, according to data compiled by Bloomberg.