Goldman, Morgan Stanley Lead Six Banks Sharing Twitter Deal Fees

Five bulge-bracket banks and one boutique are advising on Elon Musk’s $44 billion deal for Twitter Inc., the biggest leveraged buyout in years.

Goldman Sachs Group Inc., JPMorgan Chase & Co. and the boutique investment bank Allen & Co. advised Twitter, according to a statement Monday. Morgan Stanley is Musk’s lead adviser, with Bank of America Corp. and Barclays Plc also advising.

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It’s not clear how much they will be divvying up, though traditionally M&A banker fees range from 1% to 3% of the value of the deal. That would work out to several hundred million dollars ...