Michael Stock strikes with Nine, Fairfax merger win

Investment banker Michael Stock has struck his first major victory since establishing his own advisory firm with his role in advising Nine on its merger with Fairfax.

The $4.3 billion deal announced to the market today is the first media transaction since the cross-media ownership laws were changed last year.

Mr Stock, who opened the Australian office of US boutique advisory Jefferies after his departure from Credit Suisse early last year, has the plum role of advising Nine alongside law firm Ashurst.

Fairfax turned to its traditional advisory firm Macquarie Capital and lawyers King and Wood Mallesons.

Mr Stock has long been considered a close adviser to Mr Costello and has worked with him in the past.

The appointment of Jefferies will no doubt be a source of angst for Credit Suisse where Mr Stock worked briefly before leaving abruptly last year. He was recruited to Credit Suisse from UBS to bring in lucrative deals, like this one, for the firm. However, he had a major falling out with Credit Suisse Australia’s boss John Knox.

The deal is also a hit for UBS which has had a long association with Nine through the Packer family and in the past would have worked on a transaction like this in a major capacity.