Is there any doubt that financial sponsors rule the Street? Consider Kohlberg Kravis Roberts' deal for First Data. It has included seven advisers--Citigroup, Credit Suisse, Deutsche Bank, HSBC, Lehman Brothers, Goldman Sachs and Merrill Lynch--on the $29 billion transaction. Each will also provide debt financing. Morgan Stanley is apparently the only financial adviser to First Data, while boutique investment bank Evercore Group is advising the strategic review committee on the proposed deal. The deal includes a go-shop clause. And some are no doubt hoping a higher bid emerges. The company said it plans to actively seek other bids. But with the top-name advisors locked up, so to speak, perhaps the chances of that are reduced a bit.

For more:
- here's an article from Financial News online