The spoils go to…

“As a result of this transaction, JPMorgan Chase expects to:

Recognize an upfront, one-time, post-tax gain of approximately $2.6 billion, which does not reflect the approximately $2.0 billion dollars of post-tax restructuring costs anticipated over the next 18 months

[…]

The transaction is expected to be modestly EPS accretive and generate more than $500 million of incremental net income per year, not including the approximately $2.6 billion one-time post-tax gain or approximately $2.0 billion of post-tax restructuring costs expected over the course of 2023 and 2024.”

https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-sub...