The two investment banks that worked on the $19 billion Facebook acquisition of popular messenger app WhatsApp could make more than $80 million in advisory fees, according to preliminary estimates.
Dealbook reports that M&A advisory firm Freeman Consulting Services estimates that Facebook's advisor Allen & Co. could make $32 to $41 million.
Morgan Stanley, the bank that advised WhatsApp, could make between $35 and $45 million, according to Freeman's calculations.
Morgan Stanley's co-head of global technology banking Michael Grimes—who lead Facebook's problematic initial public offering— was the banker who helped advise WhatsApp on the sale, according to Dealbook.