Wells Fargo Advises on Netflix-Warner Deal in M&A Win for Bank

Wells Fargo & Co. landed a co-advisory role on the Netflix Inc.’s planned takeover of Warner Bros. Discovery Inc., underscoring the bank’s willingness to flex its balance sheet to win blockbuster M&A mandates.

The San Francisco-based lender is helping provide a $59 billion bridge loan for the deal, along with BNP Paribas SA and HSBC Holdings Plc — though Wells Fargo is the only one among the three banks to snag an all-important advisory credit. The enterprise value of the deal is about $82.7 billion, including debt, and Wells Fargo’s $29.5 billion portion of the loan commitment represents ...