Morgan Stanley and Goldman Sachs have found themselves on opposite sides of the online gambling tie up between Betfair and Paddy Power, two years after the US banks worked together to advise Betfair to reject a private equity bid.
The $3.7 billion merger, announced in a regulatory filing on August 26, will marry two of the sector's best-known brands and create one of the world's largest online betting and gaming groups, with combined revenues of over £1.1 billion a year, the companies said.
