Failed UPS-TNT deal wipes out bank fees worth $55 million

Investment banks advising () and () on their blocked deal will miss about $55 million they were set to earn on the deal, which collapsed almost a year after the offer was first made.

UPS advisers Morgan Stanley, (), and () (BAC) were set to reap as much as $30 million in fees if the company completed its acquisition of the Dutch parcel delivery service TNT, according to New York-based research firm Freeman & Co. Sellside advisers including () and () were slated to earn as much as $25 million.

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