The $19 billion Kraft acquisition of Cadbury felt at times like a Schroders investment bank reunion.
About half of the bankers key to advising Kraft and hostile target Cadbury once worked for Schroders, whose i-banking arm Citigroup bought in 2000, a source in the deal said.
When it bought Schroders, Citi landed Leon Kalvaria, who was the lead Citi banker on the Cadbury deal. Defending Cadbury were Goldman Sachs’ Karen Cook and UBS’ Nick Reid, also Schroders vets.
Banks will collect about $100 million in merger-related fees for the hostile-turned-sweet deal. Good news for the Schroders diaspora.