q4 2013 m&a fa cover.ppt - thomson...
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MERGERS & ACQUISITIONS REVIEWREUTERS / Andrew Winning
MERGERS & ACQUISITIONS REVIEWFINANCIAL ADVISORS
Full Year 2013
2
11
Fairness Opinion Rankings
Worldwide Announced Fairness Opinion
11
Table of Contents
1
20
Worldwide Announced (AD1)
20
10
18
Any Japanese Involvement Announced (AD19)
2
2
11
12
11
Any Spanish Involvement Announced (AD34)3
3
6
6
19
Worldwide Completed (AF1)
Top Ten Japanese Involvement Announced Deals
19
Any French Involvement Completed (AF40)
Any Japanese Involvement Completed (AF23)
Any European Involvement Completed (AF3) 10
12
12
Any French Involvement Announced (AD33)
Global M&A
Global Deals Intelligence
Scorecard: Worldwide Announced M&A
Scorecard: Worldwide Completed M&A
Top Fifteen Worldwide Announced Deals
Any German Involvement Announced (AD35)
Americas M&A Any Spanish Involvement Completed (AF41)
Any UK Involvement Announced (AD32)
Any UK Involvement Completed (AF39)
M&A Financial Advisory ReviewFull Year 2013 | Mergers & Acquisitions | Financial Advisors
1
Japan Deals Intelligence
Any European Involvement Announced (AD21) 17
17
18
18
Any New Zealand Involvement Announced (AD39)
Any New Zealand Involvement Completed (AF46)
Japan M&A
Americas Deals Intelligence
15
Worldwide Announced Fairness Opinion
Any Americas Announced Fairness Opinion
Any USAnnounced Fairness Opinion
14
Any Nordic Involvement Completed (AF44)
16
16Any Australian Involvement Announced (AD24)
9
Top Ten European Involvement Announced Deals
Thomson Reuters Soultions for the Deal the Deal Making Community
Any Asia (ex-Japan) Involvement Announced (AD25)
20
Any Asia Pacific Announced Fairness Opinion
8
13
13
Regional Contacts
Criteria Summary
Any EMEA Announced Fairness Opinion
14
20
21
21
22
21
20Any Japanese Announced Fairness Opinion13
Asia Pacific (ex-Japan) M&A
Asia Pacific (ex-Japan) Deals Intelligence
Any Benelux Involvement Completed (AF47)
10
Any US Involvement Completed (AF48)
Top Ten Any Asia (ex-Japan) Involvement Announced Deals 15
7
8
9EMEA M&A
Any US Involvement Announced (AD41)
16
Any Canadian Involvement Completed (AF49)
Any Australian Involvement Completed (AF31)
10
9
Any Canadian Involvement Announced (AD42)
16
Any Asia (ex-Japan) Involvement Completed (AF32)
Any EMEA Involvement Completed (AF53)
15
Mergers & Acquisitions Criteria Summary
Any EMEA Involvement Announced (AD47)
European Deals Intelligence
Any Benelux Involvement Announced (AD40)
8
8
7
Any German Involvement Completed (AF42)
Any Italian Involvement Completed (AF43)
20
20
Top Ten US Announced Deals20
13
12
Any Italian Involvement Announced (AD36)
Any Nordic Involvement Announced (AD37)
Any Americas Involvement Completed (AF55)
Any Americas Involvement Announced (AD49) 7
US Target Completed (AF2)
6
US Target Announced (AD2) 7
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Full Year 2013
FINANCIAL ADVISORS
MERGERS & ACQUISITIONS REVIEW
Worldwide Deal Making Falls 6% from 2012 Levels; Number of Deals at 8-Year Low l Cross Border M&A Down 18% l Goldman Sachs Top Advisor
Global Deals Intelligence
Worldwide Cross Border Volume Worldwide Announced Buyside Financial Sponsor Activity
Worldwide Completed M&A by Region - Imputed Fees
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WORLDWIDE M&A DOWN 6%, DEALS OVER US$5 BILLION DOWN 18% - The value of worldwide M&A
totalled US$2.4 trillion during full year 2013, a 6% decrease from comparable 2012 levels and the slowest
annual period for global deal making since 2009. Worldwide deals valued over US$5 billion totalled US$584.7
billion during 2013, accounting for one-quarter of announced deal activity. Just over 36,800 worldwide deals
were announced during full year 2013, a 7% decline from a year ago and the slowest annual period for M&A, by
number of deals, since 2005.
CROSS BORDER DOWN 18%; EMERGING MARKETS ACCOUNT FOR 28% OF M&A – Cross Border M&A
activity totalled US$737.8 billion during full year 2013, accounting for 31% of overall M&A volume and down
18% compared to full year 2012. Accounting for 28% of worldwide announced activity, M&A involving
companies located in the emerging markets totalled US$675.2 billion during full year 2013, a 5% decrease from
2012.
COMPLETED ADVISORY FEES DOWN 12% - According to estimates from Thomson Reuters/Freeman
Consulting, M&A advisory fees from completed transactions totalled US$22.5 billion during full year 2013, a
12% decrease from the comparable period in 2012. M&A advisory fees were the only segment across all
investment banking products to register double-digit percentage declines from 2012.
ENERGY & POWER, REAL ESTATE AND TELECOM LEAD THE MARKET - The energy and power sector
was most active during full year 2013, commanding 15% of announced M&A, while the real estate and
telecommunications sectors accounted for 14% and 11% of M&A activity, respectively. Telecom and real estate
led all sectors by growth rate with 122% and 44% increases over 2012, respectively. Financials and materials
registered declines of 40% and 32% compared to full year 2012.
BUYSIDE PRIVATE EQUITY M&A UP 22% COMPARED TO 2012 –Worldwide private equity-backed M&A
activity totalled US$374.3 billion during full year 2013. Private equity deal making in the high tech, consumer
staples and energy sectors accounted for 47% of the activity during full year 2013, up from 30% during 2012.
Accounting for 16% of worldwide M&A during the full year 2013, private equity-backed M&A increased 22%
compared to 2012 levels.
$46.6 $73.6
$153.8 $201.3
$78.3 $64.5 $57.1 $111.1
$54.7
$109.7
$173.6
$318.7
$82.6
$24.6 $59.7
$83.3 $67.8
$73.7 $75.9
$73.5
$160.4
$158.7
$56.1
$36.4
$73.1
$68.8 $88.5
$77.1 $65.6
$95.8
$280.5
$100.8
$35.5
$49.2
$82.4
$67.1 $93.3
$112.0
12.9%
13.2%
21.3% 18.9%
8.8%
6.3%
10.2% 11.3%
12.1%
15.6%
0%
5%
10%
15%
20%
25%
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
% o
f G
lob
al M
&A
Ran
k V
alu
e (
US
$b
)
Q4 Volume (US$b)
Q3 Volume (US$b)
Q2 Volume (US$b)
Q1 Volume (US$b)
% of YTD Global M&A
$0
$1
$2
$3
$4
$5
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13
Imp
ute
d F
ee
s (
US
$b
)
Americas EMEA
Asia Pacific Japan
$102.3 $145.6 $281.0
$406.0 $257.0
$113.4 $174.4 $233.4 $172.7 $131.1
$119.6
$241.2
$273.1
$642.8
$364.1
$112.2
$202.2
$246.6 $270.1
$163.5 $131.2
$262.9
$254.4
$371.4
$326.4
$149.5
$271.0 $203.9
$202.5
$212.2 $246.9
$249.5
$406.5
$430.9
$154.0
$169.6
$262.8 $200.5 $259.3
$231.0
31.9% 33.6%
33.6%
44.8%
38.3%
27.2%
37.5%
35.1% 35.6%
30.8%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
% o
f G
lobal M
&A
Ra
nk V
alu
e (
US
$b
)
Q4 Volume (US$b)
Q3 Volume (US$b)
Q2 Volume (US$b)
Q1 Volume (US$b)
% of YTD Global M&A
1
Western Europe
South East Asia4,939.1New Zealand
▼
▲
▼
Target Macro / Mid Industry
125.1-29.4
-3.02,185
1,187
▼
▼
310▼
Telecommunications / Telecommunications ServicesMedia and Entertainment / Advertising & Marketing
Financials / Other Financials
Telecommunications / WirelessHealthcare / Healthcare Equipment & Supplies
Telecommunications / Telecommunications Services
High Technology / Computers & Peripherals
Consumer Staples / Food and Beverage
Germany / Germany
Media and Entertainment / Broadcasting
Jan 1 - Dec 31 2013
Oi SA
Pending
10/2/2013
10/23/2013
Retail / Other Retailing
▼
Telecommunications / Wireless130,100.0
▲
Worldwide Announced M&A Target Industry by Value
1,516
1/1/2012 - 12/31/2012
1,005,734.5 ▼
▼
▼
▼
% Change
in Rank
Value
▲
▲
▼
333.2-5.1
-14.4
27.4
-46.2
▲
-4.0
▼
▼
▲
60,623.91,05288,367.0
-50.9
8.6-40.8
524
United States 900,238.0
12,384.5
▼
7,704
▼
207.2▲
▲
154
105,496.4
No.
Deals
38,629.66,355.7
34,666.7 8,003.0
864,551.1
423
1,286
2,035,656.0
Rank Val
US$m
% Change
in Rank
Value
South America
7,412
799
-30.7154
Target Region/Nation
North America
10,625.04,989.4
-39.4 Mexico954,864.1
1354.7 8,698
▼
9,220
581,047,389.6▲
201Central America▼
9,756▼
Americas12,58239,779
33,530.4
1,204,407.6
No.
Deals
9,539.8
2,542,703.6
Rank Val
US$m
127-5.6
263.618997
-4.110,558
-12.2
30,86527,194
Caribbean-33.6
▼
11.3
2.1-5.9
1,109,715.8
▲
148
10,6988,764
▼
-11.1208.1
▼
▲
1,4701,934
7,330.4739
-40.2 Canada 90,313.0▼
47,540.2Brazil 29,786.8
Middle East
▲
14,066.4
18,002.01,356
Chile29.8 ▲ 49,859.2-4.4 17,008.3
▲
Sub-Saharan AfricaNorth Africa
5.8
268 14,647.1
369▼ 316Africa/Middle East 706
585,800.4 9.6137,165.1
114
3,612.7
45,922.5
69
847
11,098.8 100
-40.5
337
118,559.4
3,163
-4.0
54,434.1
448,635.3
5,135
▲
90.5
▲
7,678
534,446.2
-24.51,061
▲
-13.3
462,437.9
▼
8,922
-38.3
▲
0.71,2485,500.9
5,81280,738.4
▼
-14.7
16.2
131
▼
2,53810,216 12,085
24,186.457,272.0
1,1361,284
328,488.2
1,876
71.0
53,419.4
Real Estate / REITs
▼
▼
United States / United States
United States / United States
104,282.241
-34.9
658
-42.9-12.9180,232.0
21,360.3
-37.2
-3.61,483-34.8
107,972.6
73
244 17,958.639212,203.9
693
260
60647,615.7
1,420
▼
27,361.7United States / United States
6,691.9 10,654.4
Top Fifteen Worldwide Announced Deals
▲
-5.9
United States / United States
80,093.4
72,166.7
19,331.1
Central Asia67,927.8
53
Rank Value (US$m)
Japan
Acquiror
Australia▲
83,663.7263
929
72,008.3
Switzerland
Asia-Pacific
75,010.2
284,679.11,075
▼
49,793.5
South East Asia 1,0691364,694.3
▲
Germany
Singapore 20,875.6
43,255.3▼
44,600.8
53,780.4▼ New Zealand
▲
Australasia▲
▲
Eastern Europe
-32.2
20.9
▲
▼
United Kingdom41.4
▼-31.9
28.9Europe
▲
▼
593
-29.6
31.5
3,881
143
9,339
547
10,393
783,009.3
24,460.512,308.2
23,504.830,307.6
1,458
1,5872,497
14,274
64,807.0133,275.0
48,044.2
1,688
145,800.3
11.4
62,190.7449
Europe
104
Africa/Middle East
9,356.6457
157,001.7
31,042.6104,094.4
-30.1
54.2
21,913.7
408,014.7 9,536
1,470
-36.2 356
ChinaSouth Korea
2,5872,385North AsiaMalaysia
North AsiaChina
5,211209,344.4286,714.7
59
-25.7
66,226.3
26.34,981
-1.5
227,064.4487
80,497.9
17.7
2301,903
194
Verizon Communications Inc
798
Acquiror / Target Nation
1,563
South Asia 24,103.4
249.0
▲36.7
▼
Australasia
3,4251,021
5,014.0
13,972.3▲
▼Malaysia
Germany
Asia-Pacific
59,779.2
1,270
Central America
1,721
Eastern Europe
169
552
3,201
87,283.6
15,350.1Thailand
9,274
77,939.1
20,861.2South Korea
4,398.1
3,5801,018
207
153,182.5
887 28,285.842,695.5
96439,813.1
▼
South Asia
1,381
American Rlty Capital Ppty Inc
14,098.4▼
-26.2
Investor Group
Dell Inc (86.61%)
-6.8
Target (% Sought/Acquired)
Bausch & Lomb Inc (100%)
Verizon Wireless Inc (45%)
Omnicom Group Inc (100%)
16,700.015,717.5
4/15/2013
7/15/2013
Westfield Retail Trust
Pending
Pending
United States / United States
Westfield Group-Australian/NZ (100%)Zoetis IncZoetis Inc (80.2%)
Canada / Canada
HJ Heinz Co (100%)Liberty Global Inc United States / United States 25,531.0Publicis Groupe SA
▼
France / United StatesVirgin Media Inc (100%)
8/6/2013
3/19/2013
Pending
Portugal Telecom SGPS SA (90%)
Shoppers Drug Mart Corp (100%)
Brazil / PortugalPending
NBCUniversal Media LLC (49%) Comcast Corp
Australia / Australia
CDC-SME Financing Business (100%)
Real Estate / Non Residential14,009.0Healthcare / Pharmaceuticals
11,708.3
Thermo Fisher Scientific Inc
13,248.5
Healthcare / BiotechnologyLife Technologies Corp (100%) 15,367.6
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11,435.1United States / United States 10,401.9
Loblaw Cos Ltd
Pending
Valeant Pharmaceuticals
Cole Real Estate Investments (100%)Pending Telefonica Deutschland Holding
7/12/2013
12/4/2013
7/23/2013
13,025.4
E-Plus Mobilfunk GmbH & Co KG (100%)11,647.55/27/2013
France / FranceFrance-SME Financing Business
9/2/2013
2/12/2013
Central Asia2,030
Pending
2,124
Rank Date
2/5/2013
Date Effective
10/29/20137/28/2013
85,081.3
Worldwide 36,8192,393,298.1Americas
6,331.4
14,699.2
8,734
1,0831,640
89
1,119,362.7
81,318.4
Chile 12,254.2
1,230,241.7
South America
1,037,773.981,588.8
2/14/2013 6/7/2013
North America
271
10,374
Middle East
Sub-Saharan Africa
1,069
North Africa
United States
Australia
2,129
Western Europe
12,540
90,426.9
448,368.5
4,868.8
6/7/2013
932,173.5
Brazil
Canada
637,209.091,637.9
120
23,384.0
547,625.4
80,699.0
99,256.9
Target Region/Nation
Mexico
No.
Deals
Rank Val
US$m
2,122,854.9
Caribbean
18,450.4287
Worldwide11,812
No.
Deals
1/1/2013 -12/31/2013 1/1/2012 - 12/31/2012
21223,229.2
30,454.5207
Rank Val
US$m
1/1/2013 -12/31/2013
United States / United StatesInvestor Group 19,283.8
United States / United States
31,158.3
1,068,698.1
51,942.63,977.7
136,524.692,639.358,397.7
6/24/2013
Japan
United Kingdom1,355
2/5/2013
523
1,455
France 1,454
201.9
454,638.7
7/12/2013
5/22/2013
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Scorecard: Worldwide Announced M&A Jan 1 - Dec 31 Scorecard: Worldwide Completed M&A Jan 1 - Dec 31
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Mergers & Acquisitions
14.7%
13.9%
11.2%
9.6% 9.5%
8.5%
7.6%
7.0%
5.6%
5.5%
3.6% 3.2%
Energy and Power Real Estate
Telecommunications Financials
Industrials Healthcare
High Technology Materials
Consumer Staples Media and Entertainment
Retail Consumer Products and Services
Government and Agencies
2
Lazard UBS
* tie
▼
0.3 4.9
92,912.6
75,605.7
16
18
RBC Capital Markets
Share Ch.
1.9
3.7
3.4
0.3
5.1 0.2
▲
0.8
Jan 1 - Dec 31Worldwide Completed (AF1)
Market
Imputed Fees (US$m)
▲0.47.1
Market
Sh (%)Fees
235 1,221.7
Change in
1.2
# of Deals
Market Advisor
-60 ▼
▼
0.7
1.0
-31
-75
VTB Capital
218
0.7
19.5
8+9 6
11
1010
▲
267,954.6
122
12
-76
8.1
5.7
15
249
16
Nomura
1.0
3.2
-0.1 -18
15
254
1
0.3
397,407.1
-18 Lazard245
208
0.6
199
218,117.9▼0.7
▼
26
11
0.3
6.0
11.42 12.3
0.4
0.710
213,784.59
143,276.1
Goldman Sachs & CoMorgan Stanley
5.711
182,683.2
Guggenheim Securities LLC
22
15
17
13.5
3,898
47 20.913.9
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3
229
▲Industry % Change from Last Quarter 28.5%
33
15.751 18.4
19.619.6
https://www.thomsonone.com
30,668.9 3
3
Deutsche Bank
Citi
UBS
Bank of America Merrill Lynch
Morgan Stanley
6
Barclays
4
7
2
Financial Advisor
JP Morgan
Financial Advisor
JP Morgan
+5
22.2
-36396
1.3
528,924.5
Worldwide Rankings
1
# of Deals
4.4 0.5
Change in
322
361,791.3
0.6
Sh (%)
9.2
Goldman Sachs & Co
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
▲
21.2
26.1
Market
▲ 195
3
1
70.6189,047.9
38,157.3
4.4
Goldman Sachs & Co
3
624,585.41 -3.0
-5.6
▲
23.5
231
679
49
64,616.3
70
68.21
47,994.6
229,443.6165,372.1 8
298
▼
44,405.1
▼
12.9
1
Market
-4.3
430,659.1
109
33
▲
0.5
▼-3.3
# of
5,278 42 44,437.8
JP Morgan
Industrials
61.7Financials
21.0
226,897.1
12
2
5.4
Rank Val US$m
4.2
333,659.4
▲
Energy and Power
0.6
Industry % Change from Last Quarter
3
43,177.940,984.5
48,115.8
31,875.6
▼
Industry % Change from Same Period Last Year
Industry Total
13 98,359.2
19
HSBC Holdings PLC
BNP Paribas SA
RBC Capital Markets
23
352,187.6
194,002.8
137,218.3
0.4
Market
8.9 -6.1
▲
22.1
10.8
Sh (%)
# of Deals per Advisor
258,859.5
310,424.4 13.0
15.1
Rank Value per Advisor (US$m)
# of
8
4
Sh ($)
-4.4
10
257,915.9
5
2012
Rank
0.9
0.6
Jan 1 - Dec 31
2013
RankUS$m DealsShare Ch.
5.4
11
2012
Rank
# of Deals per Advisor
Rank Value Market
Deals
▲25.7
-44
0.9
Share Ch.
▲622,227.8
Sh (%)
2726.2
1,591.5
US$m
329 ▼
1,144.4
5.9
3.5
20.8
▼
524,061.8
▼
2
30.61.1
+8
-64 24.7
6.5
▲ 190
0.8
▼6.0
▲
0.2765.9
▼ 3Morgan Stanley 3 503,550.1 ▲
Barclays 4
5
▲
▼ Bank of America Merrill Lynch 6
5
▲▲
▲337,315.2▼ 0.6
6.9
16.6
Citi 836.40.8
0.5
▲
175
205
2.5
0.7 -4115.6 ▼
▲18.2
3.3
+8
▲ 993.3
0.9370,694.1
4.4▲ +14 ▲
227 ▼Deutsche Bank
317,479.04
7
-1.1
-51
-49
-24
10.7 226
▼ Credit Suisse
-▼
8
561.17
▼▼ 202
▼3.9
▲
733.5 1.2
641.2 0.00.8
▼
-11 2.9
424.1
9
9.6196,088.8
9 0.5
159 0.6
238
▲
-0.6
1.6 ▼
3.9
0.5
BNP Paribas SA 6.6 +15 230.0-47
Rothschild
133,957.2
146,902.7
-27
▼
0.9
113
▼
▲▼
0.0
1.0 ▲
+4
18
11 7.2
0.4
-12 506.0
▲
▲1.9
-2.3
+9
1.00.3 ▼
0.0
0.3
-12
0.1
▼
▲
0.4
92
216.8
432.00.4 ▲
1.0
+12110
224.7
▲
0.2
447.6
0.3
5.9120,482.3
▼ ▼
30▲
-1.4
20
0.0
114,745.3
2.8
▲
▲0.1
Evercore Partners 13+1 12
1.514
-3
+7
15
Centerview Partners LLC 5.6
104,072.4 5.1
▲
Moelis & Co
4.613
▲
+4 ▲
-0.517
99,516.0
3.7
137
▼ 146
24
-0.0
1.0
0.5
0.1
▼0.5
-46
▼
▼ 2.0
0.3 ▲
0.3
-19
▼1.5
217.9
▲
-2 ▼
0.4
-3
-4
0.1
-76
19
-58 ▲
0.1 ▼
▼
-7
67.2+7▼ 66
Jefferies LLC
▲1.0
32
224.766,726.4
59,910.4
0.239
76
20
0.2
-21115 0.3
21
Wells Fargo & Co
▼ Greenhill & Co, LLC
▲
▲167.1 0.7
+9 0.6
0.1
0.2
1.1
-0.4
330.1
-
▼
▼
0.1
▲
131.3
115
2.12.4
12.3
2.4 ▼
4
157
0.135.9+1 ▲
36
0.1
00.252
0.6
+1
0.0▲
▲
▲
0.2
0.00.0 ▲ 5.0
-11.9%
22,459.3
0.4
▲
100.02,035,656.0
0.2
100.0
▼▼-11.9%
27,194
-35
-3,671
48
-
▼0.8
0.0
2.2 0.0 -
2.3
174.7▼
48,573.8
69,350.6 3.4
3.3 ▲
48,253.9
▲
2.2
1.32.9
45,803.1
25
Industry Total
17
78
-
45,433.523BMO Capital Markets
240.4 -95 M Klein & Co LLC
0.2
-2,960
22Mizuho Financial Group
▼
▼
Industry % Change from Same Period Last Year
LionTree Advisors LLC 23▲
2
Share
Mkt.
▼-7.4%
Jan 1 - Dec 31
-1.1%
1
41
-8.0%
▼
3
100.0
Rank
44,168.1
Top WW Announced M&A Advisors by Target Industry
-5.9%
35.7%
2,856
-4.1%
Top Worldwide Announced M&A Advisors by Transaction Size (AD1)
-9.4%▲
No.
Deals
▼
50
2,892
12.5
24
25 45
13842,690.5
▲
▼
121-2.1
140
55
▼
1.7
▼
▲
▼
▼
57
Nomura
+4
121
7
-33
22
Macquarie Group 1.9
36,819
1.5 0.6
12
2,393,298.1
35,860.5
▼-5.0
1.1
53,728.4
48,253.9
4.1
2.6
2.150,942.4
-1.2
-2.0
62,855.2
▲
0.3
80 2.0
▲
0.0▲
0.2 +4
16
-1.12.2
-1.7
Market
9
3.1
▼
5
▲
▲
562,886.1
2 531,974.1
10.8 ▼
2013
Rank
Rank Value per Advisor (US$m)
Worldwide Announced (AD1)
Rank Value
▼
▼
▼
7
71
Credit Suisse
Rothschild
16
▲101,391.515
79,753.3
5.4
86,839.8
105,216.9
8
12
18
130,100.0
6
Citi
Moelis & Co
14
Wells Fargo & Co
3.315
14Evercore Partners
17Centerview Partners LLC
55,268.5
-
18
Goldman Sachs & Co
LionTree Advisors LLC
21
Paul J Taubman 13
19
17
Goldman Sachs & CoBank of America Merrill Lynch
Telecommunications
46,390.9
Real EstateBank of America Merrill Lynch
Credit Suisse
28
1.8
Banco BTG Pactual SA
37
3.6
15
Morgan StanleyGoldman Sachs & Co
30
Jefferies LLC 20
Jan 1 - Dec 31 2013
Goldman Sachs & CoMorgan StanleyJP Morgan
JP Morgan
$386.2
$272.1 $299.7
$248.7
$170.9 $135.6
$198.4 $203.9 $169.0 $154.9
$13.2
$46.7
$52.5
$66.1
$67.4
$41.5
$25.4
$15.4
$130.1
$130.1
$130.1
$130.1
$130.1
$130.1
$130.1
$27.4 $27.4
$27.4
$25.5
$25.5
$25.5
$19.3
$19.3
$19.3
$19.3
$19.3
$19.3 $19.3
$19.3
$0
$100
$200
$300
$400
$500
$600
$700
Goldman Sachs & Co
JP Morgan Morgan Stanley
Bank of America
Merrill Lynch
Barclays UBS Citi Deutsche Bank
Credit Suisse Lazard Guggenheim Securities
LLC
Rank V
alu
e (
US
$bil)
Dell Inc
Omnicom Group Inc/Publicis Groupe
NBCUniversal Media/Comcast Corp
Virgin Media Inc/Liberty Global
HJ Heinz Co
Verizon Wireless/Verizon Communications
Other Top 15 Deals
All Other Transactions
3
13.9x
10.5x
Materials
12.1x
10.9x
9.7x
14.4x13.3x
Real Estate
14.1x
* Using the valuations matrix you can analyze the average rank value to EBITDA and average premium to 4 week stock price prior to announcement by nation/region, which is indicated in the top row and broken down by target macro industries.
* The data given refers to the time period 01/01/2012 - 12/31/2013 and all spinoffs, splitoffs, open market repurchases, exchange offers and equity carveouts are excluded.
* The figures in red indicate a decline, while green indicates an increase, compared to the figures from the same time period last year listed in black.
* Additionally, for Rank Value/EBITDA the data is capped at 50x and for average premium to 4 week stock price prior to announcement is capped at 100%.
10.3x
2012
13.0xAverage Industry Total
9.3x 12.6x11.4x 11.4x11.9x11.1x
12.5x
10.1x13.1x
11.2x12.3x
31.3x
12.4x
8.7xMedia and Entertainment
Retail
10.2x
11.3x 11.3x
9.4x
Consumer Staples
Energy and Power
8.4x
12.5x
12.0x 11.3x
10.3x
13.8x
Consumer Products and Services-9.0x 8.7x
14.3x
11.5x 13.2x
15.9x
7.3x
8.7x
12.5x
12.5x
11.6x
14.4x
16.2x
9.5x
9.1x
11.5x
9.7x
13.9x
10.4x 12.6x
10.9x
-
8.2x
-9.4x
12.3x11.6x
8.7x
13.3x
10.8x
17.4x
8.6x
19.1x 21.1x25.0x 18.9x 26.9x
15.1x
8.0x
9.2x
18.8x
10.9x
15.4x
10.5x
13.0x
5.7x
6.5x
10.1x
13.5x18.0x
10.7x 13.7x6.5x
13.5x
12.3x8.1x
11.4x
12.0x
11.0x10.2x4.8x 10.1x
13.0x21.0x 14.7x
10.1x
9.8x
16.7x
9.7x
17.8x
9.4x
11.5x
23.8x
8.3x
12.4x 7.9x6.9x
13.6x11.4x
13.9x
9.7x 13.6x
10.9x
8.9x 9.1x7.9x
12.1x 11.3x
14.1x
7.1x
8.9x 10.7x
4.3x 11.1x11.1x 17.9x
12.4x9.6x
9.7x
13.4x
17.3x
11.4x9.7x
18.2x14.5x 17.3x-
6.0x
10.0x 12.2x
13.2x 20.1x
22.4x
12.2x
12.8x 9.8x 11.6x 10.8x
13.0x
11.8x
7.7x 11.8x 7.6x5.7x 13.1x
14.1x
12.6x
7.4x
Europe
10.5x 14.1x
Japan
12.3x
9.9x
33.5
UK
34.5 44.6 33.144.638
USA EMEA
38
35.4
21.6
-
12.8x
28.8
23.3
12.8x
24.7
25.922.3
26.727.3
48.2
28.7
53.8
Asia ex. Japan
36.1
33.4
12.4
20.8 30.8
38.0
20.3
28.5
20.4
21.9
41.1
10.7
23.3 24.9
31.3
33.6
30.7
26.9
45.7
23.7
33.647.1 38.6
36.7
41.2
35.7
56.5
34.2
62.4
25.2
37.6
25.8
38.2
41.6
45.7
35
40.3
56.5 56.5
34.2
25.8
27.737.6
23.6
11.4x
35.2 46.5
22.1
7.6x
27.9
29.7
41.7
35.0
-
36.3 58.326.0
29
22.8
22.4
34.225.5
9.2x
28.6
29.5
44.1
4.3x
6.5x
5.4x
32.9
-
12.0x
40.422.518.2
32.1 47.3
17.9
47.3
24.1
10.7
27.3
10.8x
24.3
39.8 32.0
44.3
7.7x
24.1
24.0
51.8
25.5
37.3
23.5
41.733.8 45.1
25.2x
Energy and Power
31.8
12.1x
37.0
22.2x
13.0x
Americas
39.3
-
26.4
31.7
12.4x8.6x11.1x
26.1
11.6x
33.331.0
Industrials
12.7x
World
Healthcare
High Technology
11.6x
21.5x
43.5
22.4
39.4
33.0
40.1
30.5
36.4
41.7
37.4
31.6
12.2x
Retail 24.7
35.2 24.1
20.6
27.9
45.4
Consumer Staples
Consumer Products and Services
19.7x
24.425.3
34.0
27.2
8.7x
12.4x
25.6
13.0x
36.9
28.9
Telecommunications
Real Estate
28.4
24.2
33.2
Average Industry Total
37.1
29.3
Healthcare
39.5
36.5 37.3
30.9 35.4
Media and Entertainment
33.0
Telecommunications 28.8
Materials
25.2
High Technology
Industrials
24.3
30.1
29.1
33.4
14.0x
Financials
2013 UP
2013 DOWN
11.2x
32.6
44.4
18.4 19.1
37.0 23.3
27.6
32.0
42.3
21.5 25.4 24.025.9
Worldwide M&A Matrix
11.5x
36.3
31.5
32.2
16.618.1
https://www.thomsonone.com
29.9
37.327.9 23.2
23.3 25.4x
13.0x
49.7
28.9 21.5
21.7
30.1
22.7
54.6
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
7.9x
25.1
36.6
20.734.632.2 23.6 54.6
21.7
25.2
35.628.2
20 27.3 39.6 14.5 8.4
25.335.728.2
24.610.5
34.3
34.2
40.9
39.3
27.1
44.9 42.6
25.4
28.7
24.5
31.0
27.834.7
26
26
27.9
27.3
9.2x
11.7x
-
35.0 20.5
30.2
Canada
23.7
27.1
31.7
10.9x
28.3
28.6
41.2
World
17.9x
11.6x
9.9x
14.7x
Japan
8.9x
Asia ex. JapanEurope
13.1x
9.2x
5.9x
9.9x
13.2x
11.0x
Canada
14.0x
UKEMEAAmericas
Exit Multiple Matrix - Average Rank Value / EBITDA
USA2013 UP
2013 DOWN 2012
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
Jan 1 - Dec 31
Bid Premium Matrix - Average Premium to 4 Week Stock Price Jan 1 - Dec 31
4
Rankings shown are as of the current quarter end in each calendar year
https://www.thomsonone.com
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Worldwide Announced Rankings* - A Decade in Review
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*League Table positions reflect consolidation within the banking sector
1
2
3
4
5
6
7
8
9
10
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
1
2
3
4
5
6
7
8
9
10
Rank
Goldman Sachs & Co
JP Morgan
Morgan Stanley
Bank of America Merrill Lynch
Barclays
UBS
Citi
Deutsche Bank
Credit Suisse
Lazard
5
* tie
High TechnologyJP Morgan 42,924.2 1
Goldman Sachs & Co 39,445.3 3
Goldman Sachs & Co
US Announced Advisors by Target Industry Jan 1 - Dec 31 2013
US Target Announced M&A Target Industry by Value (US$ bil)
Americas Deals Intelligence
Telecommunications
Energy and Power
Real Estate
Healthcare
JP Morgan
Bank of America Merrill LynchJP Morgan
Rank Val (US$m)
179,668.9 168,048.0156,100.5Goldman Sachs & Co
Morgan Stanley
38,108.237,570.325,015.5
137,502.1
Bank of America Merrill LynchCiti
CitiEvercore PartnersGoldman Sachs & Co
Goldman Sachs & Co
123130,341.3
143,005.5
128,842.8 57,484.9 1
28,595.724,900.1
107,097.0 24,136.2
12
23
1
Rank
Mkt.
144
No.
Deals
86.93 5
37
752 17.53
2
9
1,458
44.617
8
37.8
866 25
Jan 1 – Dec 31 2013
Share
93.5
17.6318.1
72.6
48,759.743,010.9
Verizon Communications Inc
7
688 26.7
Telecommunications / WirelessTarget Macro / Mid IndustryRank Value (US$m)Acquiror / Target Nation
Healthcare / Biotechnology
United States / United States
United States / United States
Consumer Staples / Food and Beverage
15,367.6
130,100.0
16,700.0
Media and Entertainment / Advertising & Marketing
Top Ten US-Target Announced Deals Jan 1 – Dec 31 2013
10/29/201319,331.1
Media and Entertainment / Broadcasting
Telecommunications / Telecommunications ServicesFrance / United States
Target (% Sought/Acquired) Acquiror
High Technology / Computers & Peripherals
10/23/2013 Real Estate / REITs
https://www.thomsonone.com
NBCUniversal Media LLC (49%)
Valeant Pharmaceuticals
Liberty Global IncPending
6/24/2013
Comcast Corp
2/5/2013
2/12/2013
Zoetis Inc (80.2%)
Virgin Media Inc (100%)
Dell Inc (86.61%)
6/7/2013
5/22/2013
Date Effective
7/28/2013 Omnicom Group Inc (100%)
Verizon Wireless Inc (45%)9/2/20136/7/2013 HJ Heinz Co (100%)Pending
2/14/2013
Rank Date
Investor Group
Pending Cole Real Estate Investments (100%)Healthcare / Healthcare Equipment & Supplies
2/5/20133/19/2013
American Rlty Capital Ppty Inc
United States / United States
Life Technologies Corp (100%)
Investor Group
Zoetis IncThermo Fisher Scientific Inc
27,361.7
United States / United States
19,283.8Publicis Groupe SA
25,531.0
11,647.5United States / United StatesHealthcare / Pharmaceuticals
United States / United States
United States / United States
13,248.5
United States / United States
10,401.9
United States / United States
18
18
Americas M&A
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Americas M&A Falls 2% From 2012 | US Targeted M&A Drives the Global Market | Canadian Activity Falls 32%
22 26.3
The overall Americas Involvement market posted a 2.3% decrease from totals accumulated during 2012, with US$1.4 trillion
of value from 14,287 deals. Estimated fees generated from completed deals in the Americas totaled US$15.3 billion, a 13.1%
drop from fees earned last year.
US Targeted M&A, one of the few markets posting gains during 2013, rose 11.3% over announced M&A throughout 2012,
with US$1.04 trillion in announced M&A activity. This surge in value was accompanied by a negligble decrease in deal count (-
0.5%; 47 fewer deals) and was primarily driven by several high-value deals. Ten of the top fifteen largest transactions
announced worldwide involved US targets, including, notably, Verizon's US$130.1 billion deal to acquire the remaining stake
in Verizon Wireless from JV partner Vodafone.
Primarily due to the Verizon deal, the Telecommunications sector led the US market for 2013, with deal volume totaling
US$179.7 billion, a 17.3% market share. Energy and Power placed second, accruing US$143 billion for a 13.8% share. High
Technology emerged as the most active sector by far with 1,458 deals, outpacing the next most active sector, Healthcare, by
592 deals.
Accumulating US$142.6 billion in transaction value, announced Canadian Involvement activity fell 31.6% from the totals
reached in the same period last year. Completed Canadian Involvement also declined, posting an 18% decrease from the
same period last year. Fourth quarter completed deal volume, however, posted a remarkable 74.2% increase from third
quarter totals.
Pending
20.8
18 33.4
Bausch & Lomb Inc (100%)8/6/2013
US Buyside Financial Sponsor Activity
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5/27/2013
4/15/2013
36.8 18
40.1 24 Barclays 41,403.8 2 38.7 10
17.3%
13.8%
13.2%
12.4%
10.3%
7.3%
5.4%
5.2%
5.1%
Telecommunications Energy and Power Real Estate
Healthcare High Technology Media and Entertainment
Consumer Staples Industrials Financials
Materials Consumer Products and Services Retail
Government and Agencies
26.2 35.2 60.5
111.1
17.5 10.7 26.7 25.4
73.6 22.6 40.6
110.4
191.8
28.7 33.3 30.3 34.5
32.4
37.4
31.5
85.9
89.1
18.4
13.2
27.2 26.5
49.6
44.4
19.8
42.9
170.3 20.5
24.2
39.1 27.6
56.8
67.1
43.6%
42.6%
55.6% 52.9%
27.6%
42.1% 44.7%
39.2%
54.2% 58.2%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
-
50.0
100.0
150.0
200.0
250.0
300.0
350.0
400.0
450.0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Rn
k V
al U
S$
bil
Q4 Volume (US$b) Q3 Volume (US$b)
Q2 Volume (US$b) Q1 Volume (US$b)
% of WW FS Volume YTD
6
Guggenheim Securities LLC Centerview Partners LLC
Paul J Taubman Lazard
# of Deals per Advisor
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Rank Value per Advisor (US$m)# of Deals per Advisor
88
7.0 ▲
74
▼
Market Change in
16
8,734
Industry % Change from Same Period Last Year
17
-5
+1
Jefferies LLC
Deals
Any Americas Involvement Completed (AF55)
Market
Perella Weinberg Partners LP
-10
▼
+5
+4
65
Sandler O'Neill Partners
77
+3
▼
https://www.thomsonone.com
17,757.7 0.5
-31.4
-47
▼
0.8
12.8
87
0.9
▲
▲3.9
▲ 0.6
0.9
Market Market
Imputed Fees (US$m)
Americas Rankings
Rank Value per Advisor (US$m)
2012
Rank
8.2
2
▲0.5
222,212.3
0.2
RBC Capital Markets
▼
148,619.1
▼
LionTree Advisors LLC0.1
51,415.2
LionTree Advisors LLC
4 5
▲
53
2.5
18 2.1
-3.2
1.1
18
Industry % Change from Last Quarter
41 47,488.8
2.2 0.9
6
6
▲18
23
22
47,488.8+4
Mizuho Financial Group
864,551.1
+6
7
0.5
▲
0.3
Goldman Sachs & Co 1
Market # of
Financial Advisor US$m Sh (%) Share Ch.
Bank of America Merrill Lynch 3
Wells Fargo & Co 16
28
140
107
16
4.6
JP Morgan 2 2 401,677.9
Morgan Stanley
RBC Capital Markets
Sh (%)
AdvisorRank Value# of
Financial Advisor Sh (%) Share Ch. DealsUS$m
Rank Value Market
Jan 1 – Dec 31Any Americas Involvement Announced (AD49) Jan 1 – Dec 31
Share Ch.
213
6.0
Sh (%)Sh (%) # of Deals Fees
1.4
1,261.9 8.3-16493,908.2
Share Ch.
1.8
# of
Financial Advisor
Market
01.8 ▲
2013
Rank
Market
# of Deals
2013
Rank
2012
Rank
Change in
1.9 ▼
Market
Sh (%)US$m
JP Morgan 2 2 443,689.9 ▲
34.2
30.7 5.6
Goldman Sachs & Co 1 1 ▲34.2Goldman Sachs & Co-269
1.3
4.11 415,168.1
+11 ▲ 2 386,890.8
1
JP Morgan
818.1
31.8
▲ 1515Bank of America Merrill Lynch 3 7 431,775.4
2
171 1.2
191
+3 ▲
▼916.0 0.1▲ 150 1.3 -28 ▼ 6.0
Morgan Stanley 294,492.5 24.2
65.3 ▲ 198Morgan Stanley 4 3 367,669.8 4+14 ▲ ▲1.2
-13
23.3 7.4
7.3 ▲▼ 5.41.3
▼
14.6
25.5 1.4
▲29.9
▲Barclays 5 4 304,507.4
0.3
21.1 1.8
3
Bank of America Merrill Lynch 156
Barclays 5 ▲ 117
5.61.3 +7 ▲ 863.0283,095.6
-0.34 247,395.6 20.4 0.4 1.0 -44 ▼
▲
UBS 6 13 213,603.8 14.8
134
8.4 ▲ 98 0.7
609.4 ▼0.9 -37 4.0
+5 ▲ ▲2.9Citi 6 7 1.3▲ 650.6
3 187,225.3 ▼ 536.3▼
200,690.5
7Citi 7 6 188,538.8
▲123 1.1 +1 4.3
▼
-2.3 ▼13.1
16.5
-3 ▼147 1.0 Credit Suisse ▼
Deutsche Bank 8 8 171,663.2 11.9 2.7 0.4▼-1.2 407.0
15.4 -6.4 3.5 1.91.1 -32124
9 167,429.4 13.8 2.7 0.9 -19
▲1.1
▲ 106112 0.8 -44 ▼ Deutsche Bank 8
10 47 143,276.1 9.9
▼
Credit Suisse 9 5 156,621.1 10.8
9.3 ▲ 15
153
10+4 ▲
Lazard-5.5 ▼ 9
0.1
-15 ▼ ▲ 467.0
11 114,745.3
8 149,016.3 1.3 +6
9.4 2.9
▲ 14712.3 1.0 3.1 0.2
▲ 30 ▲
Paul J Taubman 11 - 130,100.0 9.0 RBC Capital Markets 11
1.4 0.40.3 +10 ▲ 216.8
▲ 125 2.8 0.113 97,398.9 8.0 2.2 1.1 -45 ▼ 422.0 ▲
Lazard 12 9 129,097.3 8.9
1 0.0 +1 ▲
-1.4 ▼ 153 1.1
9.0 ▲
UBS 12-19 ▼ 12 94,114.2 1.6 0.5▼ 240.8▲ 87 0.7 -2 ▼
Centerview Partners LLC 13 12 102,165.7 7.1
7.7 1.8
+5 ▲31 0.2 10 86,460.6Evercore Partners 13 ▲
Moelis & Co 14 19 89,030.3 6.2 3.4 ▲
0.2 ▲ 7.1 -4.0 2.6 0.50.8 +9 ▲ 391.2▼ 93
0.4 0 1.5 0.3- 224.7
Moelis & Co 15
Wells Fargo & Co 14
▲ 715.2 2.4
27 66,726.484 0.6 -6 ▼ ▲ 525.5 3.7 ▲
Evercore Partners 15 11 80,260.2 5.6 -1.9 ▼ ▼200.6
130 0.9
103 0.7
RBC Capital Markets 16 10 78,026.7
0.6 -14
5.1 1.85.4
▼
-2.2 ▼
-2 ▼
-53 ▼ Jefferies LLC 16
1.3 0.2
17 61,395.3
18 62,803.8
▼
Wells Fargo & Co 17 21 62,855.2 4.4 1.9 ▲
▲ 98
Rothschild 17
1.9 0.20.8 -9 ▼ 292.0
▼ 84 1.4 0.014 57,473.7 4.7 -0.1 0.7 0 - 217.7 -
BNP Paribas SA 18 28 50,880.2 3.5
55 0.4 -7 ▼
1.7 ▲ 36 0.3 Greenhill & Co, LLC 18+6 ▲ 24 55,211.3 0.9 0.2▲ 144.5▲ 28 0.2 +1 ▲
Rothschild 19 14 49,182.8 3.4
4.5 2.3
-32 ▼84 0.6 54 48,253.9LionTree Advisors LLC 19 ▲
LionTree Advisors LLC 20 54 48,253.9 3.3 2.8 ▲
-3.0 ▼ 4.0 3.5 0.2 0.10.0 +1 ▲ 35.9▲ 4
0.4 -33 1.1 0.6▼ 174.7
Mizuho Financial Group 21
BMO Capital Markets 20
▲ 132.3 2.0
16 45,433.57 0.0 +4 ▲ ▲ 483.7 0.4 ▼
Jefferies LLC 21 15 47,303.3 3.3 -1.7 ▼ ▲25.8
57 0.4
100 0.7
Banco BTG Pactual SA 22 31 35,860.5
0.1 +2
2.1 0.72.5
▲
1.0 ▲
-14 ▼
-32 ▼ CIBC World Markets Inc 22
0.2 0.2
33 25,709.5
71 27,322.8
▲
Greenhill & Co, LLC 23 18 26,699.3 1.9 -1.9 ▼
▲ 37
Perella Weinberg Partners LP 23
1.1 0.40.3 -5 ▼ 160.4
▲ 25 0.6 0.129 24,262.1 2.0 0.4 0.2 +5 ▲ 90.6 ▲
Macquarie Group 24 34 23,183.1 1.6
25 0.2 -9 ▼
0.4 ▲ 59 0.4 The Raine Group LLC 24+1 ▲ 95 21,640.0 0.1 0.1▲ 12.4▲ 2 0.0 +1 ▲
Qatalyst Partners 25 53 19,838.1 1.4
1.8 1.6
+3 ▲ ▲0.9 ▲ 12 0.1 32 20,244.9BNP Paribas SA 25 351.7 0.2
Industry Total
0.5 0.20.3 +9 ▲ 79.3
100.0 -1,077
▲
14,287 100.0Industry Total -1,0961,215,500.1 11,6591,444,579.5
▼ -5.3%
Industry % Change from Same Period Last Year -2.3% ▼ -7.0% ▼
Rank Value per Advisor (US$m) # of Deals per Advisor
▼ 40.9%
Rank Value per Advisor (US$m) # of Deals per Advisor
Industry % Change from Last Quarter -23.0%
▼
100.0
-8.4% ▼▲
Imputed Fees (US$m)
▲
15,292.0
Industry % Change from Same Period Last Year -8.3%
US Target Completed (AF2) Jan 1 – Dec 31
-8.6% ▼ -13.1% ▼
Industry % Change from Last Quarter 57.6%
Sh (%)
2012
Rank
Market
US Target Announced (AD2) Jan 1 – Dec 31
MarketRank Value Market2013
Rank Fees
# of Change in 2013
Rank
2012
Rank
Rank Value Market Change in Market
# of Deals
Market
39.0 4.8 ▲
US$mDeals Sh (%) Share Ch.Sh (%)
Advisor
921.31.9 0 - Goldman Sachs & Co
Market
Share Ch. Deals Sh (%) # of DealsFinancial Advisor
1 404,526.1 0.28.8133 1.81 1165 ▲
38.7 9.2
-13 ▼331,080.9 38.3 4.8 ▲
▲
3
JP Morgan+27▲
-107 369,743.2 35.6 20.8
1.6
6.2▲ 10210.88
▲749.7 7.1
▲
0.2
1.9650.1
1.538.0 1082 11.0 ▲328,484.8 ▼
4 4 290,045.0
-10
25.7
▲
▲ 1.2
▲
1.4 +4 ▲Bank of America Merrill Lynch
4.8 ▲ 1.4 +8120 1.3 -6 ▼28.0 Morgan Stanley 220,190.2 25.5 5.6 98
-2.822.9Barclays 5 3 262,581.0 197,728.75 3 83 1.1 -43
▼5.7 0.1
4.7 0.8 ▼
596.2
13.2
25.3 0.8 493.7▲ 1.1 Barclays-3594 ▼
56 Credit Suisse 6
▼
0.6UBS 6 13 199,932.9 19.3 2.14 157,805.1 18.3 -6.0 ▼ 403.8▼ 0.9 ▼
Citi 7 6 149,899.9 14.4 -1.8 ▼
▲ 3.8
1.0 +1 Citi 4.2
-19+13 ▲ 70
7▲ 1.01.1 +317.2 2.1 ▲ 443.678 ▲
Deutsche Bank 8 8 142,655.2 13.8
▲7
13.6 2.0 ▼0.4▲ 60 ▼ 283.20.8 -13 2.7
Guggenheim Securities LLC 9 36 142,242.0
10
14
▲
117,310.7
13.2
▲0.0
13.7 Centerview Partners LLC+4
10 9
119
Deutsche Bank 8 10▼
▲
67 0.8
▲
▲
114,380.5 +9 ▲0.427
1.212.2 ▼
4.9 ▲ ▲210.8 2.0
▼
0.23.1322.4 ▼
0.9
5.0 ▲ 0.145 0.6 +1 164.7 1.6▲
105,710.7- -4-1.7 ▼ 92130,100.0 12.5 12.5 1
11 5 115,279.4 -6 ▼ UBS▼ 8.8
3.212 6
11.1 -8.2 78 75,884.6
1.1
11
109,058.4 -18 ▲71,290.8 8.3 -7.4 ▼ 1.0772.110 10.5
50
Credit Suisse
0.5▼ Evercore PartnersLazard 12
15
Centerview Partners LLC 13 11 102,000.9 30 ▲0.3 +9▲
▲ 96
0.9
+29.8 7.7Wells Fargo & Co
+10
19
▲
▲
▲
5.1 ▲
-160,532.5
335.6
218.0
-76 0.0▲ 14 17
13 66,545.2
Evercore Partners 15 9 72,567.7
2.1
1.8
0.7
▼7.0Moelis & Co
▼
▲
Moelis & Co 14 20 85,007.4 8.2 3.8 ▲
0.4
1.324 ▲-3.3
4.5
3.5 ▲Greenhill & Co, LLC 151.0
12
2.150,358.2
189.666
0.3 +4 132.3
0.9
▲
735.2 17
▲0.518 53,844.8 6.2
▼
▼53,857.0
▲0.24.8 ▲ ▲
▼ 2.21.05.8
62,674.1 6.0
0.35.5
226.7
36 3 34.4
-9▲-1
0.9 -19 ▼
▼
0.1199.5 1.9
0.416
Rothschild 20 15 34,057.4
0.0 +1
19 21 37,294.3 4.3 ▲2.0▼19 12 98.7▲36,629.3 3.5 RothschildJefferies LLC ▲ 31 0.4-2.8 0.1▼ 0.8 -11 0.9
20▼ ▼0.33.3 -1.8 -12 50 26,913.1 3.1 2.7 0.1 +1 ▲
▲ 0.1 ▲83.9
22.6▲
0.8
0.2 0.2
▲22,982.1 2.7▼ -819 0.2 21▼Greenhill & Co, LLC 21 14 25,234.8 2.4
12.4
220.4
29 22,711.1 0.1
1.9 1.1
2.5 ▲
25
22
Gleacher & Co Inc 23
▲
Qatalyst Partners 23 38 19,838.1
+2BNP Paribas SA 22 The Raine Group LLC0.1 +1 0.1
0.8▲1.7
20,088.20.1
19,524.6 2.3
12
0.9
▲
2 0.0 -2 ▼ 0.1 ▲0.2
0.0
21.40.8 ▲
▲ 221,640.0 2.5
▲
-
2.3
29
BMO Capital Markets
24Blackstone Group LP41▲ -15 ▼
▲ 0.3
0.1 ▲1.2 ▲ 79.437 0.5 +7
25 ▼▼ 0.5 0.247.9
10,503.4
28
100.0
-8▲1.7
-292
-4.0% ▼
0.2
Industry % Change from Same Period Last Year
▲
14,580.1 18
-3.8%
100.0
▲
▼-11.8%▼
44.4%-11.3%
7,412
57.2%
Industry Total
Industry % Change from Last Quarter
* tie
-31.5% -9.4%
-0.5%
100.01,037,773.9
24 37
▲
14,172.3
11.3%
25 47 ▼
+3
0.9
▲
▼
Industry Total
Simmons & Co International
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7
Credit Suisse Centerview Partners LLC
Credit Suisse Deutsche Bank
31.116
1.6
▼
▼
-6
11
Barclays
Guggenheim Securities LLC0.4
23
Industry Total
BNP Paribas SA
9
9
4,367.1 3.1 0.0
▲
▼
1.8
9
-3.1
-18.0%
2,470
▲
0.3-3
53
+4
14.4
1,844
▲
Industry Total142,619.8
2.0
+4 ▲
▲ 1
1.5
Wells Fargo & Co- 0.63
0.0 -3
0.00.8
▼ 1.1
1.0
25.5
▼ 32.4 1.4
56.0%
9
-17.3%
▼
-385 2,313.0
▼ -18.4%
74.2%
Industry % Change from Same Period Last Year
1.3 0.615
6.8%
▲
100.0
12 -1
▼
▼1.3
-0.7%
▼
▲
▲
-5.12,208.925▲ ▼
Raymond James Financial Inc
▼1.4
▲
0.11.8
-1 ▼▲ 0.30.0
10
17 2,581.4
2,579.5
▼
1.5
2.0
-2.9
20 ▼0.4 12
3 0.1 2,361.6
Macquarie Group
24
22 ▼
1
-5 2.8
21
4,047.8
36
-4
0.9
-4.0
▲
37.50.0 ▼
0.20.5-10.0
▼
10.5
0.2▼
19 ▼ 33.222 1.31.40.1▼GMP Capital Corp
21 11 3,146.6 2.2 ▲-12▼
▲0.0 012 2.0- 46.5 0.9
15
Rothschild 18 15 4,046.9
3.7
2.8
32 5,273.1
16
UBS 19 16 3,765.0 2.6 ▼0.3-2.0 -6 -2.6
▼ 18
-
Rothschild
3.4
17▼ FirstEnergy Capital Corp
4,834.7
0.0 0.9 ▲
0.0 0.3
▼-3
-2
1.2 1.2 ▼
1.1
▼
0.120.6
▼▼ 24.9
16
US$m
Advisor# of
▲
Fees
238.5▼0.2
0.1 -14
-607
▲
31,263.7
▼
# of Deals per Advisor
55.3%
Share Ch.
11.3
▼
100.0
▲
-9.6% ▼
-9.7% 41.3%
1,051,145.3
▼
9,485
Industry % Change from Same Period Last Year -4.6% -6.0%
▲ 27 0.5 0.3 ▲
13,310.7 100.0
25 42 19,679.6 1.9 1.3
0.1
0.3 +11 ▲ 65.7
▼40 0.4 +4 ▲ 84.4 0.6
0.2 0.1 ▲
Blackstone Group LP 24 25 19,783.0 1.9 0.3 ▲
▼ 21.91.9 0.7 ▲ 3Gleacher & Co Inc 23 30 20,088.2 0.0 -1
▲2 0.0 +1 ▲ 12.4 0.1
0.1 ▲
The Raine Group LLC 22 73 21,640.0 2.1 1.9 ▲ 0.1
▲ 90.60.4 ▲ 25 0.7
Mizuho Financial Group 20
Perella Weinberg Partners LP 21
0.226,945.3 2.6
2.3
2.2 ▲
22 24,262.1
▲ 35.94 0.0 +1
54
0.3 +6
0.3
0.1 ▲12 0.1 +1 ▲ 24.0
0.2 ▲
1.3 0.1 ▲
LionTree Advisors LLC 19 40 48,253.9 4.6 3.9 ▲
2.7 ▲
0.7 +8 ▲ 177.82.0 ▲ 65
0.2 ▲28 0.3 +1 ▲ 144.5 1.1
0.3 ▼92 1.0 -5 ▼
-
Jefferies LLC 16 15 55,504.6 5.3 1.9 ▲ 269.7 2.0
0.217 62,803.8 6.0 2.8 1.5200.6▲
1.8 0.00.8 -15 ▼ 242.0
0.3 ▲20 66,726.4 0.5 0 - 224.76.4 4.2 ▲ 52
0.4
▼71 0.7 -10 ▼
1.7
▲88 0.9 +13 ▲ 2.8368.1
1.7 0.3 ▼
Evercore Partners 12 8 80,506.0 7.7 -5.4 ▼
▲ 224.38.5 3.3 ▲ 7512 89,501.9
215.7 1.6114,580.5 10.9 3.1 ▲
0.8 +7
0.4 ▲29 0.3 +9 ▲
423.6 3.2 0.1 ▲125 1.3 +7 ▲
2.8 0.4 ▼
Lazard 9 9 128,559.6 12.2 -0.2 ▼
3.7 2.1 ▼
1.4 ▲ 92 1.0 -13 ▼ 371.5
-18
▲
▼ 491.316.9 -5.9 ▼ 103
181,819.3 17.3 2.9
177,389.3 1.13
▲114 1.2 +16 ▲ 613.8 4.6 1.4
▼
815.7 ▲
114
+22
Barclays 5 4 226,953.5 21.6 0.4
1.8
-1.0 1.2 -37▼
4 7 256,185.7 141 1.510.1 ▲
0.1190
6.6-20 ▼
135 1.4 ▼ 0.1-11
Market
Deals Sh (%) # of Deals Fees Sh (%)
Market
Share Ch.
Market# of
2.0Goldman Sachs & Co 1 1 372,852.4
Industry % Change from Same Period Last Year 4.4% ▲
-399
+1
Sandler O'Neill Partners
Change in Advisor
9.1 ▲ 135 1.4
2.5 ▼ 1,152.0
Industry Total 1,250,383.7
0.30.416,184.4 1.3Macquarie Group 25
5.4
24.4
Credit Suisse
Citi 6
▲
42 -140.4
-7.2% ▼
37
100.0
-3.4% ▼
11,305
12 0.11.6 ▲1.0
0.71.4
Qatalyst Partners 23 42 19,838.1
Greenhill & Co, LLC 22
43
21
40,835.2
32,963.1
2.1
BNP Paribas SA
Rothschild 20
28 ▲
13
2.6
15 26,699.3
3.644,589.9
▼
1.0
-2.6
7.1
▲LionTree Advisors LLC
-1.7 ▼19 14
57,329.2 4.6
3.8Moelis & Co 18 89,030.3
18
Evercore Partners 15
17
74,364.2
48,253.9
17
▲
▲
12 123,762.69
20
-0.3
5.0
10
14
16.5
23.0
12
▼-0.4
206,241.1
6
-0.3
▼
▲
Centerview Partners LLC 13 11 102,000.9 8.2 ▼
174 1.5 +17
Lazard
11 -
9.9
130,100.0
130
10.4
334,694.5
5
2
6
-1.5 ▼
▲
14.5
3 26.8
6.0
16.7
24
2.6
57
9
+3
0.7
3.9
1.9
Jefferies LLC
13
7
16
RBC Capital Markets
95Jefferies LLC
3.3
Wells Fargo & Co 62,855.2
2.4
-14.0
-5.7
0.5
99
▲
▼
18
8.8
0.4
-7
▼
-2.3 ▼
0.2
-3.1
-0.6
# of
0.7
36
2,801.4
-31.6% ▼
54
20 13 3,433.8
Industry % Change from Last Quarter
* tie
▲
-15.2%
▼
1.8
Houlihan Lokey
Guggenheim Securities LLC
2,487.9 1.7
2,579.5
▲
Industry % Change from Same Period Last Year
13
Industry % Change from Last Quarter
▼
JP Morgan
-25.4%
23
-1 37
0.0
100.0 100.0
27.49 5,766.5
Jefferies LLC
▼
16▼ 22 4.0
1.7
Sh (%)
21.9
▲
▲
3.4 -2.6
▲
▲2.3
765.5
▼
▼
5.8
879.0
▲ 6.1
▲
605.1 4.6
-13 8.7▲
1.8
▲9.7
▲▲17.1 151
130
▲ 6
+7
+13
▼
86 0.8
129
Credit Suisse
143,085.8
0.6
0.0
1.5
▼
1.8
2,801.4
-17
-31
-5.8+7
Market
Bank of America Merrill Lynch
Lazard
55
-14
+1
54
25
1.1
0.1 +4
+5
7
# of Deals per Advisor
+8
9
242
Deals
# of Deals per Advisor
2
# of
1.5
4,864.4
Rank Value
5,751.1
1.1
▲1.1
-29
▲
-9
7
Jan 1 – Dec 31Any US Involvement Announced (AD41)
Rank Value
5.24
7.8 ▲
Market
Financial Advisor
Goldman Sachs & Co 1
34.8
2012
Rank
31.6
JP Morgan
Bank of America Merrill Lynch 3 7 395,279.8
US$m
2013
Rank
1 468,449.0
2 435,553.5
Rank Value per Advisor (US$m)
37.5
Morgan Stanley
172 34.1
▲
0.1JP Morgan
Rank Value Market
Imputed Fees (US$m)
Market
2.1
Sh (%)
1.1
# of Deals
Change in
▲
▲
+12
20,279.8
26
▼
▲
Evercore Partners
0.8 -6
0.5
-7
-5-2.9
▲
-9.6 18
15
▼
7 16,661.2
Scotiabank
Goldman Sachs & Co
2
4
Bank of America Merrill Lynch
2
CIBC World Markets Inc 6
7Deutsche Bank
TD Securities Inc
5
Morgan Stanley
-3
4 16,986.7 11.9
14.2
23,848.6
3 16.5 0.6
9.6
23,537.1
12
6
Market
Financial Advisor
1 22.9RBC Capital Markets 32,601.8
Sh (%)
2013
Rank
2.3
US$m
Rank Value
1
Financial Advisor Deals
Market
-50
Market
# of Deals
63
0.92▲
13.5▼
Goldman Sachs & Co
-29
-5 120.9
2013
Rank
▼ Industry % Change from Last Quarter
2012
Rank
Rank Value per Advisor (US$m)
Any Canadian Involvement Announced (AD42)
Rank Value per Advisor (US$m)
Market
Any Canadian Involvement Completed (AF49)
17,757.7 ▲
-28.4%
2012
Rank
Jan 1 – Dec 31
Share Ch.
Industry % Change from Last Quarter
▼
35
24
14 58,880.0 5.6
17
▼
Greenhill & Co, LLC0.8
▼
-7
-28
80
Sh (%) Share Ch.
▼
Market
# of Deals
Change in Market
Imputed Fees (US$m)
▼
1.510.3
5.2
3.7
▲
▲
5.7▼
Paul J Taubman
5
132.0
1 54,327.4
27.2
18
1
10.5
Guggenheim Securities LLC 9
10
15 0.137
130,918.3
143,276.1 11.5
-7.2
Barclays
Citi 7
287,521.8
88
4
180,683.8
UBS
Deutsche Bank 104
10.4
118
▲10.8
UBS
Deutsche Bank
▲+4
0.9
1.0
▼
▼
Deals
Market
55,211.3 5.3
4.8
19
15
-3
RBC Capital Markets
18 50,606.2▲
▼
▼
Rothschild
▲
0.1▼2 35-0.6
0.1
1.4
Sh (%)
Jan 1 – Dec 31
7.3
38.0
-2 18.0
RBC Capital Markets
3
4
▲
1
CIBC World Markets Inc
5
8
+4
BMO Capital Markets
2.96.9160.4
15.3 ▲
▲
4.0
+2 ▲
37
12
0.1 -2
2.1+5 64.6 2.8▲0.0
-
-8
5Scotiabank 0.1
0.1
7 17,048.4 11.9
▼
7
3
21
11.7
JP Morgan
15,731.6 11.0
14,303.9 14,748.6▲ 4Bank of America Merrill Lynch
11
-14.6
-4.2 42
-23
+2
TD Securities Inc
1.7
3
2.0
3.5
10
14
▲
National Bank of Canada Fin'l
▲
1.880.2▼
18
40
8 3.3
9
75.9
12,289.5
Lazard 16 20
8
18 11,632.3
9BMO Capital Markets 3
10
88
# of Deals per Advisor
▲
▲
▲
▼
0.2
+3
26
24,581.1
14.220,366.26Morgan Stanley
▼ Citi
▼
17.230
▼
0.7
-4
Americas Rankings
83
+4 Wells Fargo & Co
14
1.7
▼
▲
▲
93.3
4.3
Share Ch.
▼
6.8
▲▼
0.1
0.220
15
1.1
-8
▲0.9
▲
▲
-12.1
10.3
-4.3
0.1
▼
▼
98.2
▼
10
38,925.5
25,709.5
2012
Rank
-4.4
8.6
▼ ▲
0▲8.4
▲
▼
Jan 1 – Dec 31
12.8160,108.8
Any US Involvement Completed (AF48)
▲
US$m
12,011.2
▲
Share Ch.
3.0
Market
Financial Advisor
Market
▲
18
8
11
8
▲
43.4
0.0
140,369.2
11
1.4-12 ▼ 58.510,671.3
1.30.07 1.98.125
2.5
260,213.7
6
5
45.2
+3
11,565.5 6.1 ▲
7
+1
+1-10.0
▼
▼
0.7+5 ▲6.5Canaccord Genuity
12
-94.7 0.819
▼ 9
6,769.4
-6.2 ▼
18
4.0
7.5
0.6
0.1 2.6
▲ 8 0.0 ▼ 35.0 1.5
-3 ▲13 9,298.314 ▼0.2 61.00.6
6,346.9
▼
5,309.5
21
-10.5
-6
1.8
0.1 ▲
-5.6
0.9
3.7 0.3
210.8
0.1▼ 15
11
0.5
16
14
2,966.0 0.42.122
+1
-2.2
0
Industry Total
25Raymond James Financial Inc
-443
53
Wells Fargo & Co 24
49
https://www.thomsonone.com
Barclays
23 55
13.4
Sh (%)
+8
-7
13▲
24.8
Rank Value per Advisor (US$m)
10
2
▲
▼ Moelis & Co
15
▼
▲ 358,523.7
3
35.5
1.3 Morgan Stanley
2013
Rank
+9
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Sh (%)
10▼
Citi
Macquarie Group
5
12,541.4
12
7,679.2
9
8,360.7
30 0.3
0.0
Canaccord Genuity
▼
▼
▲
8.2
8.2
▲
Sh (%)
1.6
0
0.9
7.6
11,701.5
10.0
0.6
-10
Change in
0.7
▼
+4
39
1.5
0.9▲
▲
14
5.4
4.1 -0.3
4.3
▲
41
▼
▼
▼
GMP Capital Corp 17
▼
1.0
17
0.6
-1.4
15
5.9
Evercore Partners
14
813
4.5
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
12
▼
5,846.4
19
8
EMEA Targeted Financial Sponsor Investments (Buyside Sponsor Activity)
15,717.5 Telecommunications / Telecommunications ServicesFrance / France
Netherlands / Netherlands
6,535.0United States / United States
Goldman Sachs & CoJP Morgan
9
130,100.0Date Effective
Pending Brazil / PortugalFrance / United States
United States / United States
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
10/11/2013
3/28/2013
7/29/2013
Kabel Deutschland Holding AG (76.57%)
Activision Blizzard Inc
6/3/2013
7/26/2013
6/12/2013
Target (% Sought/Acquired)
Consumer Staples / Food and BeverageGermany / Germany
Oak Leaf BV
Verizon Communications Inc
10/29/2013
Rank Date
Industrials
Acquiror / Target Nation
15,038.6 Morgan Stanley14,277.8
104,207.9
Top Ten EMEA Involvement Announced Deals
Acquiror
Goldman Sachs & Co
3JP Morgan
Publicis Groupe SAOi SA
Omnicom Group Inc (100%)
Healthcare
Primary Listing of Most Acquisitive EMEA Companies - Top 10 (US$B) Jan 1 - Dec 31 2013
Pending10/2/2013
24,176.1 26,777.7
78,573.4 21,013.3 68.9
3
25.7
22,996.8
5 49.3
Rank Value (US$m)
Goldman Sachs & Co
UBS
1
3Energy and Power
Morgan Stanley
Barclays
Morgan Stanley
Morgan Stanley
164,828.0
146,198.3
Financials / Other Financials11,708.3
32,505.8
Financials
22
46.8
229,362.9
Jan 1 – Dec 31 2013
Target Macro / Mid Industry
EMEA Deals Intelligence
Telefonica Deutschland HoldingFrance-SME Financing BusinessCDC-SME Financing Business (100%)
7,500.0
Deutsche Bank
Telecommunications
7/12/2013
Citi
155,177.6
EMAL10/14/2013
Perrigo Co
6/24/2013
Activision Blizzard Inc (38.39*)
Verizon Wireless Inc (45%)9/2/20137/28/2013
E-Plus Mobilfunk GmbH & Co KG (100%)
Pending
DE Master Blenders 1753 BV (84.95%)
Portugal Telecom SGPS SA (90%)7/12/2013
Pending7/23/2013
Germany / GermanyVodafone VierteDUBAL (100%) Utd Arab Em / Utd Arab Em
United States / Ireland-Rep12/18/2013 Elan Corp PLC (100%)
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
EMEA M&A
EMEA Announced M&A Falls 15% | Telecommunications Highest Valued Sector | Financial Sponsor Activity Rises
19,331.1
5,834.4 High Technology / Software
Materials / Metals & Mining
Media and Entertainment / Advertising & Marketing
Telecommunications / Wireless
7,740.9
Healthcare / Biotechnology
11,435.18,619.5
Media and Entertainment / Cable
Telecommunications / Wireless
Bank of America Merrill Lynch
29.3
1
16.8 16
9
7
23,443.5
https://www.thomsonone.com
3
800
Announced M&A activity with EMEA involvement totaled US$977.8 billion in 2013, down 14.5% compared to the US$1.1
trillion reached last year. EMEA fees accumulated on deals completed in 2013 were also down, reaching only US$9
billion, a 12.5% decrease compared to the US$10.3 billion total for last year, according to estimates from Thomson
Reuters/Freeman Consulting.
Telecommunications was the highest valued sector of the year, with 330 deals grossing a combined US$202.2 billion.
Activity in Telecoms was largely driven by the US$130.1 billion Verizon / Vodafone transaction. Energy and Power
accrued US$146.2 billion, and Financials totaled US$111 billion worth of activity.
Despite the overall decline in M&A, financial sponsors were more active this year compared to 2012. EMEA-targeted
buyside financial sponsor activity reached US$108.3 billion, up from US$81 billion reported last year and the highest
annual total since 2008. The largest deal in this category was the US$8.6 billion offer for Dutch coffee company DE
Master Blenders 1753 BV in March.
Acquirors listed on the Euronext Paris stock exchange were EMEA's most acquisitive companies this year, with a
combined total of US$50.1 billion in offers. The largest such deal was Publicis' US$19.3 billion offer for US advertising firm
Omnicom.
* Undisclosed
81.5
16.016.6
No. Deals
Goldman Sachs & Co
81.7
24,262.5
76.7
24,626.9
Mkt.
1330
ShareRank Val US$m
165,209.4
Rank
2
202,233.7
1,308
20 1,680
19.326.5
123
22
40
111,029.7
17
32,649
22.1
21,391.8
1
23.22
23
16
6 2
22
EMEA Involvement Announced Advisors by Target Industry Jan 1 - Dec 31 2013
$16.5 $33.4
$76.2 $73.7
$27.0 $21.7 $19.1 $25.1
$25.4
$61.2
$45.1
$86.7
$44.5
$9.1
$16.0
$37.7 $20.1
$31.1
$27.4
$37.1
$60.3
$51.6
$28.1
$14.9
$37.1
$22.8
$18.1
$20.2
$38.2
$45.2
$90.9 $56.1
$18.1
$22.3 $21.8
$23.7
$31.9
14.7%
17.5%
19.7% 16.2%
10.2%
7.4%
12.7%
13.8%
9.6%
17.2%
0%
5%
10%
15%
20%
25%
$0
$50
$100
$150
$200
$250
$300
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
% o
f E
ME
A
Rank V
alu
e (
US
$b)
Q4 Volume (US$b)
Q3 Volume (US$b)
Q2 Volume (US$b)
Q1 Volume (US$b)
% of YTD EMEA M&A $50.1
$35.7 $22.8
$11.4
$9.5
$7.9
$7.8 $7.6
Euronext Paris
London
Frankfurt
OMX Stockholm
Milan
Nasdaq
New York
Abu Dhabi Stock Market
Madrid
Johannesburg
9
Citi Lazard
Citi Lazard
Rank Value
Any EMEA Involvement Completed (AF53)Any EMEA Involvement Announced (AD47)
Goldman Sachs & Co
▲
-18
Rank Value per Advisor (US$m)
Market
Jan 1 – Dec 31
Morgan Stanley
Share Ch.
▲
Market
# of Deals per Advisor
JP Morgan
34.5
2
2012
RankFinancial Advisor
3
5
7
130,100.0
127,741.0
Paul J Taubman
Banco BTG Pactual SA
Lazard 13
Deutsche Bank 9
15
11
18
Societe Generale
BNP Paribas SA
Credit Suisse
12
14
Leonardo & Co
HSBC Holdings PLC
16
10
Guggenheim Securities LLC
268,563.6
102,782.3
122,971.2
231,569.6Barclays
Bank of America Merrill Lynch
Moelis & Co
Jan 1 – Dec 31
Sh (%)FeesDeals
288.63
7
4
4
111*
Rothschild
2
8
UBS 6
7.8
▲
6
▼
1
1
-
11
13
13.1
▲
▲
8
9.1
4.0
▲
2.9
▲
3.4
▲
3.9
1.2
▲
▼
98
-11
-8
25
4.3
5.5
-1.0
1.9▼
- -1.8
28,906.5 3.5
▲
▲
▲
15
34,661.2
0.0
0.0
0.12.0
0.7
1.9
▲
▼
▼
▼
0.7
1.9
1.2
VTB Capital
▼
▼
10.4
▲
1.2
17
1.9
-11
1.0
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
0.8
Industry % Change from Same Period Last Year
Industry Total
27 22,000.5
1.9
2.1
4228,906.5
-1.8
▲3.0
68
23,978.4176
Nomura
24 17,636.8
36
39
1.9
22 18,655.6
17,564.1
23
▼ 38
24Credit Agricole CIB
1.925 12
20 -1.5
-8.6
-2,057
Ondra Partners▼
25
14,603
Industry % Change from Same Period Last Year
* tie
Industry % Change from Last Quarter ▼-27.3%
100.0
-16.8%
Market
▼ 5.5
▲
6.5-13 559.5
Fees Sh (%)# of Deals
▲ 273.1+8
+19
▼
306.7
460.6
▼
▲
274.1
▼
3.2
+13
252.9
-3
-29
-8
0.4
0.5
Moelis & Co
14.1▲
▲
245.5
+5
▼
▼
Renaissance Capital Group 19
▲
2.4
5
10
9
-12.6%
0.3
180 +26
Ondra Partners
47
68
45
Lambert Energy Advisory Ltd
5
39
18
▼
-12
2.2
▲ 55
-0.1
0.2
▼
17
▲
39,638.8
45,803.1
12
90
15
16
-
64,557.5
4.2
29
5.8
106,723.24 -4.0
1.3
11 96,676.1
75,605.7
7
Rothschild
138,008.38
109,144.1
▼
UBS
VTB Capital
187,652.7
Deutsche Bank▼
HSBC Holdings PLC
75,605.7
-1.5
Evercore Partners
▼
▼
-0.4
1.3
▼
1.0
76
▲
2.2 15
▲
2.1 0.2▲
20
19
HSBC Holdings PLC
Renaissance Capital Group
▼
-25
0.5
-20
▼
55
▼
107 0.7
▼
-8.6 0.6▼
0.9
-1.6
-4.3
91
139
0.014.3 ▲
14.3 ▲
1
0.7
▲
BNP Paribas SA
▼
102 -41
20.7Bank of America Merrill Lynch
15.5122,135.5
10
24.1
+1
-5.1
14.3
13.1
0.0
▼
11.3
▼
-12
3
163,323.3
8 189,686.15
▼
9
28.8
9.6
12.2
5
-0.4 0.7
11.5 -7
-41
Citi
35.5
0.814.4 118
-3
0.8124
-197▲
-
4
21.9
3
199,516.1
131,149.1 14.4
219,244.0
▲
106*
Industry Total
Bank of America Merrill Lynch
6
US$m
323,369.0
261,903.3
3
2
JP Morgan
2
Rank Value per Advisor (US$m)
▲
Morgan Stanley
1
32.9
Market
Share Ch.
▲
▲
PricewaterhouseCoopers
48
Perella Weinberg Partners LP 22
21ING
20
24
Any European Involvement Announced (AD21)
1
-14.5%
5
4
Rank Value
▼
Financial Advisor
Rothschild
Ernst & Young LLP
5
6
8
Credit Agricole CIB
8
Guggenheim Securities LLC
Industry % Change from Same Period Last Year
331,413.9
13
Barclays
299,283.7
UBS
Goldman Sachs & Co
Industry % Change from Last Quarter
2012
Rank
2013
Rank
Paul J Taubman
7
11
12
10
Deutsche Bank
7
9
BNP Paribas SA
3
Lazard
PricewaterhouseCoopers
Leonardo & Co
Societe Generale
ING
Banco BTG Pactual SA
Credit Suisse
Ernst & Young LLP
Moelis & Co
Perella Weinberg Partners LP
19
20,213.8
21 47 19,506.3
17,709.3
HSBC Holdings PLC
34
-0.4
2.8
3.0
18
15
25,575.5 1.4
Nomura
Lambert Energy Advisory Ltd
Evercore Partners
Industry Total
4.535,531.2
14
M Klein & Co LLC
0.1
33,390.6 4.2
26
34,661.2
28,182.2 3.6
3.731
5.8
4.1
5.0
3.7
3.2
1.0
▼-1.1
2.0
4.4
0.0
▼
▼
0.3
-7.3
8.3
13.3
20
12
-18
22
21
Societe Generale
0.1
+38
Mediobanca
17
-1.4 ▼
-7.9
-5.2
▼
-160.3
52 0.1
-2298
0.4 -8▼
▼
7.2
▲
▲13.3
13.3
▲
-11.5
12.6 112
70,295.4
9.9
140
11096,621.4 -1.5
▼
▼
81,109.4
0.3 +8
19310.5 0.5
-4.6
88
118
14.7
▲
101
1.9
6.8
-17
-2
0.2
-26
0.6
1.5
0.9
-11
0.8 +15
11.6
15.5
▼
24
0.8
0.7
101
+20
0.8
188
265.0
▲
0.8
▼
▲
302.7
495.9
Financial Advisor
▲
1
2013
Rank
Market# of
-38 254,998.3 30.6
-22
▲
▲
# of Deals
▼
Change in
▼
US$m
9.6338,626.0 0.4 Morgan Stanley▼
Sh (%)Sh (%) Deals
34.6
337,387.8
Barclays
Goldman Sachs & Co
132
172 -370.5
126 0.3
2.0 250,144.6
3
1
6
4
193,350.1
3
2
▲
6
220,913.6
238,143.8
Deutsche Bank
55 ▲ 118
▲
6.9
▼
23.2
10222.9
▼ JP Morgan
26.5 259.7▼
+10
6.8 ▲
5.5495.2 ▲
▲ 0.8
30.1
28.6
3.2 149 1.2
Market
Sh (%)
-261.08.5
▲6.5585.7
0.7
0.5
Market
# of Deals per Advisor
Market
Imputed Fees (US$m)Rank Value per Advisor (US$m)
2012
Rank
Market
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Market
Sh (%) Share Ch.# of Deals
▼
# of
Share Ch.
Rank Value
US$m
120▲2
2013
Rank
EMEA Rankings
Advisor
▼
Change in
▲
▼
0.2▲
97
316.9
3.2
+1
0.9
43
18
▲
▲
30.9
Sh (%)
1.0
0.72.6
8.1
Rank Value per Advisor (US$m)
1.5
23.8
Market
▲
24.0
21,354.2
100.0
US$m
45
22,000.5
▲
▲
28
1.4%
7.9%
Mediobanca
▼
▲
▼
▲
+1
Moelis & Co
25▼
21,354.2
96
Banca IMI (Intesa Sanpaolo)
15,607
281
33
0.7
-51
-11
93
167
23,978.4
M Klein & Co LLC -
17
18
40
14Nomura
29
16
14
34,394.8
3.428,182.2
35,531.292
33
4.2
13
832,493.0
7.8
5.5
5.545,803.1
64,617.512
45,788.3
40,026.6
40
4.1
4.8
▲
1
5
▼
2.6
2.9
Advisor
9.9%
12,489
# of Deals per Advisor
▼
Any European Involvement Completed (AF3)
▼
2013
Rank
8,988.5
0.1
+11
0.0
-15.4%
▲
-5
-7
7
0.3
42
0.0
0.1
46
▼
▼
145
+2
-13
0.4
0.0
▼
▲
+3
0.4
+4
-
▲
96.8-17
0.3
▼
▲
0.1
▲
Imputed Fees (US$m)
▲
0.2
▲
▲
▲
▲
0.3
0.8
191.7
13.6
0.3
67.2
▼
0.3
▲
4.5
2.2
2.3
80.8
1.1
0.8
0.8
0.4
0.1
0.7
▲
▼
▲0.5
0.4
0.2
▲
-
Market
▲
1.4
3.2
▼
100.0
0.5
5.4
0.1
▲
0.8
▲
▲
▲
▼
▲
Share Ch.
0.2
0.2
0.6% -15.1%
100.0
▼
789,952.9
▲
2.2% ▲
▼▲
-2,103
28.9
0.4
-1
47
https://www.thomsonone.com
▲2.7
5
▼
1.5 ▲ 0.5
0.3
▼
11,825
0.4
0.1
+20
-13.7%
▲
▼
▲
▲
39
45
0.3
+2
0.4
Leonardo & Co
0.0
▲
▲
14
15
5
0.0
▼
-18
-34
▲
24
42
0.2
▼
1
8.2
8.3
220,085.0
▲
▲
2.3
7.2
2.4
▲9.6
# of
244,152.3
30.9
Market
29.2
114
Market
1.2243,949.6
27.9
Rank Value
▲
7.3
96
0.9
230,390.2
▲
0.8
1.0
0.8100
81
0.7
0.7
187
79
0.1
0.8
0.8
1.613.5
0.0
7.2
9.8
97
9.6
112
2 ▲
▲
96
6
0.9
0.8
13.8
17.5
0.4
2.8
0.3
▲
Deals
15.8
12.7
Share Ch. Sh (%)
▲
110
3.4
▲
▼
12.2
▼
▲
▼
+20
-2,267
▼
Jan 1 – Dec 31
▲
-1
0.6
+7
-30
+1
+3
-12.5%
-10
-13 ▼
▲
▼
▲
471.1
383.3
73.1
3.0
99
0.9
▼
Change in
5.0
98.2
28.9 0.3
285.4 ▲
4.3 ▼
2.3 ▲
0.2
0.1
0.1
0.3
0.1
▼
▲
2.9
3.5
0.8
0.1
1.2
▲
0.33.4
+2
▲▲ Bank of America Merrill Lynch ▲
+138
▼
9
5.5
131,149.1 13.4
Citi 190,975.4
-
19.7
0.3
0.0
98
-1
9.0
11.5
10.9
3 +2
-5
0.3
109 0.3
103
13.331.3
203,081.5
23.7
27.5
20.8
306,222.3
▲
0.0
Rothschild
▲ Credit Suisse
11
7
▼
BNP Paribas SA 9
10
13
17.1108
164,003.7
142,473.1
109,659.7
2.2
4 12.8
96,977.3
13.2
106,723.2
7
12 ▲ 81
9.0
11.7
-3.9
122,455.5 ▲
▲
11
203.0
385.3
0.33.2
▼ 0.7
0.8▲
▼
0.3 -33
▼
-8
-21
+7
▼
0.4
0.4
0.7
0.8
0.7
▲
▲
2.2
▼
▲
195.8
73.9
0.1
1.1
0.8
0.3
14.1
67.2
1.4
1.1
▲
▼
▲
0.2
0.146.4
0.2
0.3
65.6
▼
▲
0.0
▲
0.3
▲
30.1
123.9
13.6 0.0
0.2
3
15
Societe Generale
▼
Goldman Sachs & Co
Financial Advisor
Leonardo & Co
Industry % Change from Same Period Last Year
2
2012
Rank
1
23
24
Industry Total
25
Morgan Stanley 1
UBS
10
JP Morgan
7
6
12
Credit Suisse
0.8
Industry % Change from Last Quarter
0.2
20
Change in
-34
Banca IMI (Intesa Sanpaolo)
26
Barclays
-4.4%
0
0.5
# of Deals
1.3
-22
-13.1%
▼
-17
+37
▼
▼
▼
0.7
0.6
291
0.1
1
33
107
# of Deals per Advisor
▲
▼
0.1
10.1%
+1
-2,361
Sh (%)
1.1
37
▲
-38
▼
-6
-27
-18
▼
-49
▼
▼
▼
0.1
▲
▼
0.4
+2
▲
▲
92.7
46.4
0.10.1
0.0
-23
-5
1.4
+19
5.0
▲ 199.5
-9
-21
298.0
+9 1.1
0.2
8,607.4 100.0
0.2
0.2
0.1
0.3
▲
0.2
3.5
0.1
3.6
2.9
0.6
0.9
-
0.5
▼
2.9
0.4
123.9
▲
▼
-12.8%
0.6
0.2
22.6 ▼
65.6 ▲
0.9
37
4
13
11
45,523.3
93
▲
5.8
▲
▲
7
22
21
▼
Industry % Change from Last Quarter
43
-28
-7
+29 23
-47
-12.3%
108
10
30,773.8
14
8.8
-6
9
21
-11
+6
103
62,315.0
3.9
3.4
▼
▼
6.8
80,094.4
188
26,987.2
1.2
1.0
▼
20
0.1
36
17
16
2.5
0.7
119,583.2
125,960.9
130,100.0
94,511.4
102,728.9
133
-7.1
-11.9
▼
13.8
11
▼
910,580.6
32
33
13
1915
▲
35,066.8
23,031.7
18
▲
17
25,575.5 2.6
3.2
38,623.2
31,455.115
4.0
2.826,987.2
Market
23
-30.2%
Market
40 18,655.6
20
19
17 21
20,990.4
33
32
34
23,031.7
3.0
0.3
▼
0.3
▼
▲
17,638.9
0.9
▼
▼-8.3
18,393.9
1.8
977,834.3
▼
37
19,506.3
100.0
36.4
Jan 1 – Dec 31
Sh (%) Deals
# of
-5.4%
-0.1 ▼
76
▲
0.7
45
-1.4
12▲
Nomura 25 12 17,624.1 1.8 39 0.1 -47 ▼
10
Credit Suisse Rothschild
* tie
Goldman Sachs & Co Credit Agricole CIB
16,317.2
13,246.6
16
5
17,369.17
17,649.9
-3.816,787.2
15
US$m
87,757.4
Citi
Financial Advisor
Morgan Stanley 2
Paul J Taubman
11
Barclays
JP Morgan
Goldman Sachs & Co 1
21
33
10
8,173.2
11,708.3139*
12 10,695.1
22,348.8
14
+3
+2
2-
13
EMEA Rankings
-1
▲
13.3
-0.2
34.7
Rank Value per Advisor (US$m)
▲
▼
Any UK Involvement Completed (AF39)
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
1.0
▲
▲
19
16
10
0.7
▼
+1
0
+2
0.1 +1 ▲
+6
▲
0.1
▼0.1 -1
+2
-248
https://www.thomsonone.com
7
2
6
Citi
# of Deals
2013
Rank
2
-21 90,279.49
Rothschild
Banca IMI (Intesa Sanpaolo)
Stephens Inc
-0.7
Sh (%)
Societe Generale
Financial Advisor
25
Macquarie Group
6,303.321
2
32
+1
+2
▼
0.4
0.6
Any French Involvement Announced (AD33)
-68.6%
33.0
-12.6%
▼
▼
▼
-
-4
▼
▼
0
▼ KPMG
-19
0.3
0.3
-315
▲
-5
19
Nomura
Macquarie Group
+2 ▲
0.1
▼
▲
51,599.0
60,108.11 6
2013
Rank
▼-1
▼
4,400.0
Jan 1 – Dec 31
8.0
Imputed Fees (US$m)
Market
▲
▲
▲
▼
Sh (%)
▲
Market
▼
▲
▲
▼
▲
1.6
0.3
0.5
1.8
▲
2.7
3.3
0.6
0.3
5.271.4
2.3
48.2
0.0
3.5
▼
▼
108.7
▼
36.4
44.3
▼
31.3
-
▼
+3
0.1 ▲
0.3 -5 ▼
▲
-9
▲
-
0.0
2.8
.1
9.2
▲
42.9
▼
▲
41.0
38.7
0.7
▲
14.6
0.834.5▲
0.1
1.1
3.0
1,364.6
-7.5%
-1.4%
5,191.5
4,075.7
▲
1
▼
18
1,842
▲
Detroyat Associes SA 4,476.1
▼
Millenium Associates AG
21Nomura 4,199.8
4,075.7
-
▲
▲0.8
0.5
0.8
▲+1
+2
UBS
13.4
+3
Natixis0.0
5,310.0
0.1 ▲
0 17
0.6▲
-2.116HSBC Holdings PLC
▲
13
Mediobanca 17 0.3
0.1
0.8
▲
7,298.6
11.8
▼
▼
▼
0.9
12,270.7
22
74
18
16
7,227.1
0.9
0.5
0.5
16
2.0
86,091.3
32.2
17
19
12,175.6
26
30.5
17
4
8
▲
▲6
Goldman Sachs & Co
76,749.1
3 25.5 ▲
▲
Barclays
Sh (%)
Market
Sh (%)
▲
33.8
Deals
0.2
Rank Value
▲
23.6
# of
0.1
46
-40.1 ▼
39
Market
# of Deals
# of Deals per Advisor
▲
32.9
44.2
3.6
15.0
35,984.4
34.9 23,723.9
▲
6.0
5
Evercore Partners
0.3
JP Morgan
Share Ch.
Market
25
19,289.2
35
24.7 5
33.1
0.0
0.2
0.5
0.9
* tie
▼
▼
43.6%
2,103
▲
0.8 ▲
-0.9 22*
-5
19
▼
-1
4,634.3
4,476.1
▲
3.3
100.0
4,456.4
HSBC Holdings PLC
139*
1.9
▼12.4%
100.0100.0
▼
Industry Total
▼ -4.0%
▼
16
10,096.0
44,887.4
24
31
11,708.3
8,654.3
22
12
-
▲
▲
20.2
6,441.1
13,634.7
8.6
20,009.4
11,763.9
16.5
Industry % Change from Last Quarter
# of Deals
-5.6
19.5Deutsche Bank
37.9
47,464.0
US$m
Rank Value
▲
▼
▼
+2
0.11.3
66
17
Market
# of Deals per Advisor
4,570.4
2.4
100.0
-4.1%
▲
1.4 52
1.2
1.5
16
-
Perella Weinberg Partners LP
Jefferies LLC
▼
Ondra Partners
0.1
8.5
0.2
45 0.2
-13.0%
-4.9 ▼
0.1
▲
53
101
72,683.3
12.1
13
0.0
▲
0.0
1
8
30
83,633.5
19.4
19.8
27
13.3
50,435.2
39
79,214.2
29.5
-8
-7
-17
0
▲
+12
▼
▲
-11
0.1
0.2
+16
+1
+3
0.1
▼
+6
▲
-10
-1
▼
▲
▼
▲
0.8
-16.2%
Advisor
-5
-442
+3 53.7
+10
-4
▲
0.9
1.1
▲2.2
0.8
0.8
▲0.6
▲
▲
-4
0.5
15-1.3
-8
3.1
2.9
0.8
▲
0.9
0.2
16
11
1.9
0.9 5
9
17.5
11
9
▼
29,673.9
13.4
▼
21.8
24,990.0
2.3
8.6
▼
-5.3
4.7
7.4
-3.2
13.8
18.4
2.84.0
-8.9
6.4 6.4
4.2
3.0
3.4
3.3
5,287.8 3.9
5,385.7
5,658.9
Credit Suisse
Macquarie Group 23
Natixis
Industry Total
Detroyat Associes SA
14
Leonardo & Co
21
Societe Generale
2320
19Mediobanca
Credit Agricole CIB
32
1013
15
Ricol Lasteyrie & Associes SA
4
119
15
16
ATTIJARIWAFA BANK (MIDDLE EAST -
Centerview Partners LLC
UBS
25 2,603.4
Nomura
136,096.9
4,056.1
33
Industry % Change from Same Period Last Year
▼
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
▲
18,751.85
8
118
19
Bank of America Merrill Lynch
-40.0%
13
Lazard
43,294.1
25.8
5 31.8
6 35,144.1
37
Citi
11
18
Barclays
17
9
8
10
Moelis & Co
1
▲
12
14 28,910.1
9
14.7
10.0
70
21.2
▲
-16.7
4
3.6 ▲
1.6
4.2
▼
▼
10
Financial Advisor
40
8.6
3.3
+4
Lazard
▲
▲
▼
▲
10
-14.9
-5.6
18.3
Industry % Change from Last Quarter
11
4
18
16
16
5
22
1.3 -17 ▼
21
-9 ▼
Deals Sh (%)
# of
# of Deals per Advisor
10
▼
-15.0%
-
▼ 85
3,484
▼
▼
0.2
45 2.1
17
-2
1
+3
0.0
0.5
-7
Industry % Change from Same Period Last Year
HC Securities & Investment SAE 25
0 - -
60
22*
3.3
▼
-11
-9.3%
-
3.1
-4
4.8 ▲
-2
+8
0.1 -9
0
2.3
-16
4.5
4.2
4.5
4.1
▲
22.5
▼
19.5
13.0
▲
▼
▲
Market
0.8
-14.3
Share Ch.
Imputed Fees (US$m)
2.0
Deals
22
4.6
48.8
Share Ch. # of Deals
3.9
Sh (%)
1.2
2.6
▲
3.3
▲
100.0
1.2
3.6
62.6
1.1
0.8
132.9 9.7
0.5
0.8
0.6
2.1 0.6
0.4
1.1
▼
▼
0.6
▲
-
68.4
10.1
▲ 23.6
0.4
0.3
38.4 1.3
34.3
16.9
17.1
17.4
63.2
▼
0.1
-
0.4
1.3
▲
-
1.1
▼
▲
0.7
0.1
0.4 ▲
6.0
2.6
0.6
0.0
2.2
2.9
▼
0.5
1.2
1.1
1.22.2
5.7
3.8
▲
Share Ch.Fees
▲
150.2
4.2
0.1
▼
1.0
▼
1.5
Jan 1 – Dec 31
Advisor
0.7
173.8
127.9
110.9
+11 ▲
▼
117.2
▲
+12
67.6
Change in
3.6
4.9
78.6
6.5199.4
88.5
▼
12.1
▲
67.5
-
19.6
+8
4.2
184.2
▼
-1
+4 ▲
▲
▲
+2
Fees
▲
0
+27
10.2
+4
23.1
Sh (%)
3,054.4
▼
▲
▼0.3
1.6 ▼
▼
▼
▲
0.5
0.7
0.1
▲
0.9
▼
▼0.1
0.8
1.7
▲
▲
0.1
3.1
▼
2.5
▲
1.3
1.1
7.8
15.6 ▲
▼
0.4
0.6
-
0.1
0.0
0.9
0.1
▲
▲
-.1
12.9
0.0 0.0
1.5
0.79.3 ▲
▼0.60.9
0.5
-
0.1
0.0
14
37
4.1
5.0
1
3.1
▲
▲
5
▼
9
-3.810.8
3.1
1
1
-3.4
-3.4
5.2
8.2
-0.2
-17.0
8.2
7,543.1
-2.3 61
0.9
17.8
▼23.9
▲
57-18.6
42
▼
▼
-0.7
3.4
-0.3
▼
2.9
▲
11.9
12
7
4.7
18,854.3 19.0
3.59,008.8
36.3
20
4
Deutsche Bank
38
20.8
15.3
11.5
24.9
▲28.0
▲
1
Change in
▼
2012
Rank
Bank of America Merrill Lynch
Jan 1 – Dec 31
Market2012
Rank Share Ch.
Rank Value
Any UK Involvement Announced (AD32)
Market
-17
-3
+2
0.7
0.5
0.0
0.1
-3.7
-15.3
▼
-501
-6
▲
▼
Sh (%)
Change in
-
▼
1.2
-
JP Morgan
Rothschild
-6
0
▼
-2
-6
+6
Goldman Sachs & Co
11
Credit Suisse
Citi
14
10
Barclays
12▲ Ricol Lasteyrie & Associes SA
13
▼ Bank of America Merrill Lynch 15
▼
19
Centerview Partners LLC▼
3,029.4
-25.4%
24 3,276.9
20 109
▲
Industry % Change from Last Quarter
12
+4
4.1
▲
Morgan Stanley
2.6
▲
▼
▲
19
# of
Rank Value per Advisor (US$m)
331,850.4
4 1 61
9
3224
Industry % Change from Same Period Last Year
2012
Rank
119
22VTB Capital
BNP Paribas SA
PricewaterhouseCoopers
JP Morgan 3
Ernst & Young LLP
Industry Total
Morgan Stanley
13,404.7
24
7,946.6
15
18
40
7
67
8,032.6
11,226.4
12
Rothschild
Perella Weinberg Partners LP
Lazard -3.9
20
2.3
-20.2
8,716.9
12,053.2
▼
3.6
▲
2.6
▼
1.5
-0.2
3.4
▲
17
HSBC Holdings PLC
Jefferies LLC 16
15
13
14
Nomura
2.4
2.4
Societe Generale
23
2.3
6,728.516
19BNP Paribas SA
6,683.0
19
18
1.4
2.0
2.0
7,760.7
2623 4,767.3
Evercore Partners
-5.7
Deals
5,838.1
-10.51.9 ▼
21.8
Market
-7
-0.8
26
Share Ch.
▼
22.0
3
25
+2
Market
12
33
3
0.0
20 +4
-25
1.0
0.6 0
1.6
-215
5,854.1
100.0
2012
Rank
Industry % Change from Same Period Last Year
Banco Espirito Santo SA
Evercore Partners
▼
3
4.1
-11.9%
-2
US$m
174,275.5
Market
Rank Value per Advisor (US$m)
Sh (%)
2013
Rank
2
6
130,100.0
10
1
131,134.1
5
10
Deutsche Bank
4.5
5 155,586.5 46.9
44.76
-
3
148,209.2
9
▲
43
164,382.3
52.5
21.7
1.2159,381.4
▲23.9
4 49.5
1.2
▲
▲
57
49.0 33.9
1.6
45
UBS 4
11
28.148.0
162,472.6
8
3
3
5
+642
2Morgan Stanley
-11
▲
▼-15
▲
▲
▲
▼
35 1.0
1.034
Guggenheim Securities LLC 7 239.5
Bank of America Merrill Lynch
8 -
9.5
18.8
1
39.5 ▲
39.239.2
35,045.3 10.6
▲
7
VTB Capital
UBS
29
▲
0.8
0.0
0.1
54,130.3
15,355.4 -12.2
▼-17.1
+1 4
9Credit Suisse
14,771.3
64,623.4
▼ 11-16
0.9
4.6
-20.5 31
10
4.0
▼ 650.827
▼-5
-16 11.1
0.9
Lambert Energy Advisory Ltd▼ ▲
▲
14.0
-38
Renaissance Capital Group
14 30,931.2
36,490.0
58
-3.5 ▼
2 19,715.30
0.6
1.7
HSBC Holdings PLC
13
0.1
0.1
45 0.2
11.0
6.5
4
18
29▼
▼
11
-2.0
40,597.0 15.6 ▲
49
-
7.6
34,551.2
+323
-0.4
0.1
0.0▼ 2
0.9 ▲
4
2
▲ 0.0
+6
0.0
0.0
9
7
▲8,716.9
2.7
3.0
1.67,512.7
2.8143
0.3
0.0-11.4
7,094.2 2.7
19
6,643.5
24
25 5,834.4
2.323
23
2.3
7 2.6
Sh (%)
BNP Paribas SA 14
Financial Advisor
Rank Value
US$m
▲
▲
2013
Rank
Rank Value per Advisor (US$m)
Any French Involvement Completed (AF40)
Industry Total
Industry % Change from Last Quarter
259,882.5 2,945
2.4%
4.0%
# of Deals per Advisor
MarketMarket Change in Market
▼
Jan 1 – Dec 31
Market
21.3%
BNP Paribas SA
2 3 32,586.4
4
3Lazard 1
1
8
▼
2
8
6
Deutsche Bank
▼
Societe Generale
▲
▲
11.8
12.4
3.1
1
7.6
▲
5.4
▼
▲
15
24
7.4
5.25,172.3
30
0.2
3.1
6
16.2%
99,135.3
24
12
▼
▼
8
16
80
3
# of
0.1
▼
9
1.9
-18.7%
0.0
0.1
+3
▼
.0▲0.2
11
ABN AMRO Bank PricewaterhouseCoopers
Perella Weinberg Partners LP Citi
Industry % Change from Same Period Last Year
* tie
▼
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
16
19
+1
▼
10
+3
0.9
▼
-2
3232
-10.5
8
9
-2
2
5
26.2
▼
18.1
10
6
13,062.7
Morgan Stanley 1 ▼
29.0
4 17,965.2
1.1
24.0 -11.8
0.0
4
21,692.0
Sh (%)
Rank Value2012
Rank
1
▲32.8%Industry % Change from Last Quarter
Rank Value per Advisor (US$m)
Market
Share Ch.Sh (%)
19
# ofMarket
Deals
17.9
▼
7
-3.31.8
4
Industry % Change from Same Period Last Year
25
50,804.1
13
6 0.8
▲
0.6
▲+4
-22 ▼
5
Imputed Fees (US$m)
2012
RankSh (%)
+5
+8
0.9 +1
1.7
30
0.9
1.4
Jan 1 – Dec 31
MarketMarket
0.3
0.5
▲
7.9
1.6
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
▲
▲
▲
# of Deals per Advisor
Market
Sh (%)
▲
3.0
22
2.5
▲
Change in
20
+4
# of
Jan 1 – Dec 31
▲
▲
▼
▲
19
Industry % Change from Same Period Last Year
25
12.5%
-17.4%
Share Ch.
EMEA Rankings
Fees
3.4
▲
0.6
6.7
4.1 0.2
4.5
20.8▲
Change in
24.1
0.1
▲
35.5
Market
+7
Advisor
9.0
23.0
+22
▼
0.6
▼
▼
3.3 2.6
▲
▼
▼
▲
▼1.3
27.5
8.9
0.55.2
7.1
5.4
▲
▲0.4
1.5
-
0.98.2
3.0
▲
▼
3.3
▲
▲
0.6
0.0
0.9
▼
Share Ch.
▲
▲
▲
2.9 ▲
0.8
Market
Imputed Fees (US$m)
8.5
0.5
0.4
3.9
1.2
▼
Sh (%)
▼
2.9
5.7
3.4
0.4 ▲
▲
▲0.4
0.8
▲
5.8
67.9
1.3
50.2
3.0
4.2 ▲
▼
4.9
0.31.2
0.9
0.12.6
▲
6.2
# of Deals per Advisor
-6.4%
0
770 534.0
-16.4%
▼ 14.6%
+1
12.4%
100.0
▼
0.6
1.0
5.7
15.3
+4
-
8.1 5.8
1.6
1.0
13.8
3.9
▲
▲
4.9
3.3
13
▼
18.2
▲
24.0
36.0
17.5
23
4,821.0
19.4
Deals
4
▲
61
Rank Value per Advisor (US$m)
14
-
-
▲15
Santander
▲
▲
6
9
8Morgan Stanley
Deutsche Bank▼
▼
▲
3,935.1
2.8▲
▲
26
15
10
22
12
KPMG
▲
13
▲
0
Banco BTG Pactual SA
11UBS
16
7.3
11
20
2
6,312.3 9.3
-
12.7
10
8,633.9
16.9
5,298.2
13
11,435.1
8,609.2 12.7
6.8
6
5.3
14
▲ Deloitte
1.6
4.7
-13.5
▲
2,085.2
27
▼
Rothschild
▼
11
17
15
▼
5
58*
+3
▼
6.0
17
▲
-1.8
1.6
▲
BBVA
+11
Nomura 18 11
Societe Generale
35
4,937.816
5,177.8
Societe Generale
3.8
AZ Capital 20
Credit Suisse
1,269.918
19 1,716.8
-1.8
▼
+3
-4
0.9
1.8
0.5
-7
0.7
-205
Deutsche Bank 17
60
0.44,519.1 ▲ 46.7
7.6
Deloitte
9*
11
12
Barclays
15
PricewaterhouseCoopers
13
KPMG 14
ING
21
11,435.1
12,902.2
20.9
20.8
16.9-9*
14
HSBC Holdings PLC
14,182.8
14,110.6
19.0
6
18
8
7UBS
JP Morgan
24.6
46.1
19,474.6
# of
17,033.7 ▲
22.2
9.2
▲
US$m # of DealsFinancial Advisor
+7
1.8Barclays
Sh (%)
1.6
Any Spanish Involvement Announced (AD34)
Goldman Sachs & Co
Rank Value
Financial Advisor
14,399.9
4
5
2
19 16,667.2
Citi
1
▲
Deals
4
Market
# of Deals
28.7
1
15 +2
▼
3
Rothschild
17.3
2012
Rank
Bank of America Merrill Lynch
6
Morgan Stanley
2013
Rank
21.3
12
1.2
▲
▲
8
1.3
11
0.55
+5▲
20.7
5.8
2.8
8.4
16.9
16.9
9.4
+11
-1.6
+8
Credit Suisse
▲
1
59
6.6
3.7
▲
2.3 Nomura
Mediobanca
0.2
▼
Ernst & Young LLP
0.8
-5
13
-
▲
▲
15
5
Perella Weinberg Partners LP
▲
10
5
14
Rothschild 13
43 6.0
Jefferies LLC
5,244.4
4,787.5
4,386.0
3
2,914.6
0.2 +2
▲
▲ 2315
▲
+1
▲
0.9
2,027
▲
2,793.1
+5
▲
2,589.0
2,789.6
+1
8.3
1,988.8
-16.7%
-168
▲
100.0
+10.1
▼
0.1
-175
▼
▼-26.3%
▲
▼1.2
0.5 ▼
0.4
-
0.0
▲
0.8
0.5
4.1
-
▼
▲0.1
0.0
0.5
▲
0.1
▲0.6
▼2.6
▲
0.3
-9
16
+16
+1
-1
-
▼
0.01 -3
-1
0
▼
0.2
0.1
9.1
▲
1
46
▲
-2.6
▲5.5
4
-165
8
▲
21
Any German Involvement Completed (AF42)
Citi▲
Industry Total
Ernst & Young LLP
▲
# of Deals per Advisor
+14
-7
8 -
# of Deals Financial Advisor
▲
HSBC Holdings PLC
-3
+7
Change in
Jan 1 – Dec 31
▼
Goldman Sachs & Co
2 22.8
4.9
20
13
19.811,562.9Mediobanca
BBVA0.76
0.9
+1
+1
4.5 +10
0
-6
+3
31,219.4
25.1
2013
Rank US$m
▲1-1
Market
Sh (%)Deals
0.8
17
914
▼
8.7 8.3
Jan 1 – Dec 31
0
-12
1.3
▲
-5.3 14
0.8
15
12
11,888.2
-
9.2
11,435.1
9,513.3
12,123.8
9.1
7.2
3.8
3,959.8
3,959.8
3,614.4 5.5
Sumitomo Mitsui Finl Grp Inc 20*
▲
131,326.0
9.1
38*
Industry Total
3,959.8
28
3,704.8
18
+30.8
101.0
▲
Development Bank of Japan Inc
11
20* -
11Macquarie Group
Industry % Change from Last Quarter
Moelis & Co
Development Bank of Japan Inc
UniCredit
20*
3.0
3,959.8 3.0
2.8
24
25
Industry % Change from Last Quarter
▲
0.3
-168
▲16
13.0
1.4
2.8
4.7
4
3.0
5.1
0.0
▲1
19
20*Acxit Capital Management GmbH
Barclays 6,201.312
- 3,959.8
Nomura 18
BNP Paribas SA 17
22
19
HSBC Holdings PLC
Jefferies LLC 16
15Ernst & Young LLP
ABN AMRO Bank
ING 13
14
6,136.9
5,583.6
8.2
7.5 ▼
-4 ▼
▲
▼
1.0
2.9 ▲
2.5
2.4 ▼
0.2
▼
2
Lazard
▼ 0.7
12Barclays
0.2
▼ 7
0.7
+1▲
1.5
0
+5
JP Morgan
▲ Deutsche Bank
8.2
1.4
7.2
0.613
29
13.1 ▲
▲1.4
Lazard 11
21.5
5 2
Bank of America Merrill Lynch
5 24,982.67
30,612.9
Citi 6
Credit Suisse 7
10
Rothschild
9
61*
5.7
10
12
112*
13,951.5
10.7
29
26 25
0.0
▲
▲
▲
17
0.8
0.8
Market
48.8
Rank Value per Advisor (US$m)
2012
Rank
1.8
Share Ch.Sh (%)
▲19.5 30
5
0.0
▼▼
▲
# of
▼
Market
-3.3%
7
Market
1.8
Industry Total 100.067,779.1
-15.3%
▲
2.1
25
29
1,215.3
2.0
4.7 23
Share Ch.
Market
Rank Value per Advisor (US$m)
2.5
# of Deals per Advisor
▲0.4
841.26
914.7
2.1
-9.01.7 ▼
1,064.0
7,740.9
12
47
8
19,605.0
7,377.6
17,319.2
13,593.6
▲
0.6 ▲
1
-9.8%
5
+1
-17.3%
5
1,603
0.3
0.11
0.3
0.6
0.5
0.3
7.0
▲
4.4
▲3.7
▲
9.4
8.9
10.3
7,011.4
17.4
▲
9.9
Bank of America Merrill Lynch
▼
11
7
6,689.211
0
3.8
9.9
16,420.9
10.6 1.4
23,969.5
5.1
24.1
28,166.8
23.3
-2.6
18.3
14,015.4
12.5 0.3
19.0
9
28.7
8
2
8
6
13
29.9
Morgan Stanley
Deutsche Bank
31,642.6
2013
Rank
39,230.6
64,061.31
24
-
Industry % Change from Last Quarter
-44.4%
UBS
37,713.4
4
3 3
Banca IMI (Intesa Sanpaolo)
1
Financial Advisor
Goldman Sachs & Co
4
1,371.924
Any German Involvement Announced (AD35)
Industry % Change from Same Period Last Year
▲
▲
1,405.1
30
BNP Paribas SA
1.3
JP Morgan
8.1%
Rank Value
US$m
9.3
Lazard 23
Santander
Credit Suisse
4,039.3
41
▲
5.5
0.1
▲
▲
10.5
Mediobanca 21
3,622.4
18
1,881.5
▼
3.4
12
4,012.519
8
22
+1
1
-2
0.9
6.5
4,837.9
3
12
2.3
▲
▲
▲
▼
▲
7.8
2.8
5.9
18.4
16.8
4.7
▼
Market
Sh (%)
1.3
5
+71425.4
-1
12
3.9
0.1
▼2.4
2.1
2.5
-27.5
11.3
7.8
7.3
1.8921.48
4
4,088.6
-
2.1
3.9
1,057.3
5.5
-4.3
19
6.0
4.0
-6.4
7
16.4
14.0
5,991.7 11.8
9,847.3
12,919.6
4
3,683.8
Rank Value
5,761.0
-4.6
9.5
6.4
7
8,349.3
7,135.2
▼
▲
▲
-
▼
▼
▲
▲
▼
2.8
▲
5.9
5.0
-20.4
63.9 3.5
▲
3.2
3.2
3.6
1▲
35
▲
▲2.1
0.4 -6
1,199.5
-1
-9.2%
5.8
▲+1
▼
▼
▼
-2 0.2
▼
0.2
18.1
25.1
0.5
0.2
5.7 0.5
1.4
28.9
1.5
-2
-1
2.2
1.3
▼
▼
▼
▼
-2
▲
Fees
▲
-2
Advisor
▼
16.7
6.4
6.9▲
+2
35.8
Change in
▼
102.5
2.1
59.2
69.0
34.3
7.3
-8
12.4
▲
-
1.0
-15
0
34.9▲+1
-
0.6
+1
4.149.6
5.6
5.2
0.5
0.4-6 ▼
▲
-1
-14
+3
▼
▼
# of Deals
-151
▲
10
5
▼ 63
▲
▼
▲
11
▲
-1
9.5
▲
▲
Share Ch.
-1.4
▼
9
Market
16
▲
▲
▲
Bank of America Merrill Lynch0.1
▼
▲
Any Spanish Involvement Completed (AF41)
▼
2.3
DC Advisory
7
-0.4
2
3,466.6
21 4.8
3.4
-3.3
19
Commerzbank AG
22
4.3 8
▲
7
10▲
6.4
2,740.0
Berenberg Bank 49
4,744.1
2,004.0
Ondra Partners
22
20
HSBC Holdings PLC
21
1
58Deloitte
45
24
-
100.0
▲
▼
0.2
21.9
Sh (%)
Market
▼
2.9
▲
▲
▲
-3
+5
11
+112
+1
0.6
+5
+18
-1
8.2
1.4
0.9
0.5
1.3
▲1.7
▼
0.5
0.4
1.7 0.3
▲
▲4.3
1.4
▲
4.5
6.8
6.7 2.9
0.5
0.4
7.7
1.3 0.2
1.26.4+9▼
1.41.1
37
▼ 2.6
4.8
+2 ▲
0.3
5
15
3,064.8
▲
10
16
4.1
6.0
2,169.1
1.2
Nomura
1.9
-7.6
-13.8
Ernst & Young LLP 22 1,722.7
20
2.5
7
24 16▼ JP Morgan1
2234
23Lazard
Banca IMI (Intesa Sanpaolo)
11
UBS
Goldman Sachs & Co
23.1
100.0
US$m
40.3
6
-32.8%
2013
Rank
30,179.0
0.914
1.4
▲
1.2
22
5
3
5.8 ▲ 0.6
0.7
8.5
9.2
10.4
10
1
15
-4.3
2.4
▲
1.0
▲
3
▼
11
8
39
1.3
0.4
0.2
11
0.2
7
21
9 0.6
3,765.8
-1
+19
0.9
2.2
▲
4
0.5
-3
-3
21
34-8 Evercore Partners 18
+3
▼
▼7,453.6 5
7,038.6 5.4
16
KPMG▲0.7
5.06,547.1 9.9
8.2 0.2▲
▼ 14
0.2▲
▲
3.0
Blaettchen & Partner AG
3.7
Kempen and Co NV
0.9
- 2.7
23
-
3,299.9
3.7
▲3.5
2.7
▼
2.9
3.0
3.7
74,933.7
▲
▲
2,223.7
https://www.thomsonone.com
-19.0%▼
-7.7%
-9.6%
Industry Total
0
0.1
0.7
0.7
0.1
2.4
0.6
▼
12
▲
Leonardo & Co Lazard
Nomura Jefferies LLC
2,913.0
3,550.0
4.3
-1
+1
+1
15
16* 33
5.2
4.3
1
9 0.6
5.2 0.1
-8.7
▲
7.6
7.4
0.2
-2
0.3
0.5
0.1
0.3 +2
+3
+1
3
-12
0.2
-1.9
0.3
▲
11.3
▲
▼
▼
▼
4
2
24.2▼
-4
0.3
-5.5
-1
5▼
10.8
▲
3.4
0.4
-21.1% ▼
-18.7%
0.1
0.1
Industry Total
Barclays
▲
CIMB Group Sdn Bhd
Nomura
▼
▲
ING
▲
-5.7%
+2 ▲
▼
▼ ▼
Industry % Change from Last Quarter ▼6.5%
68,296.2 100.01,009.0-362
-28.1%
▼ -20.3%
1,619.0 72.0
1,575
-17.6%
100.0
▲
▼
▲ Pangea Property Partners AB
▼Evercore Partners
15.5
23
25
2.6
2.81,913.9
2.455
-15
-2.7 +5
0.6 -9
▼ 0.7
2.9
7
▼ 9
11
0.4
1,918.4 2.8
1,782.0
29
Deutsche Bank
0.3
21
Carnegie
1
▲ 22
+1
+1
0.46
8.0
▼
▼
3.3
4
-1▲42 2,688.4 3.9
2,000.5
2.3
-22.2
-2.9
1
0.8
14.8
-82.9
▼
▼
-8
▼ 0.3 13.7
0.2
+1
19PricewaterhouseCoopers
Malayan Banking Bhd
▼
2,913.0- 4.3 1
▼ 2.5 ▲
0.0
2.4
.0
▲0.2
3.1 0.2
2 -6
▲
▼
25.6
▲
2.4
▲
▲
▲
VTB Capital
Bank of America Merrill Lynch
0.1
▼
▲ -1
▼
7 +1
▼
▲-
9
4,577.3
9
-3.2 3,495.05
▼3
▼-1
-3.9 ▼
▼ 0.6
8
5,035.3
5,136.0
9
126* 4,731.0
4,857.322
0.4
0.4
6
5,498.9
8
5,203.3
37.57
15 9
4
Share Ch.
▼
15.4
▲
5
Sh (%)
7
6
2
2012
Rank
14,437.7
8
6
10
15,206.2
▲
2.5 15,111.8
3
Deutsche Bank
▲
Change in
Goldman Sachs & Co
▲+3
▼
+16
1.8
+21
-11
1-
20
52
▲16*
▲4.3
2,214.5
4.3
DNB ASA
4,592.6
6,874.3
20,599.9
18
7.0
5.9 27.8
Market
1.6
Market
18.1
Share Ch.
17
▲
-9
Market
13.4
11
5
Sh (%)
29
▲
34.7
-21.1
+9
▼
▲4.8
Market
Any Italian Involvement Completed (AF43)
# of
7
1.8
25
+5
28 3.9 -1
13
-15
5 -7
3.5
2.316 -14
1.0
▲
▲
11
-7
-3
3 -4
0.64
+11
3.23.2
9.3
▼
1
2.7
▼-3.37.1
-3.4
31
1
▲
8▼
7.6
6.2
5.3
7.6
4.0
▼
3.3
2,853.5
37*
1,724.9
3.1
1,502.2 2.8
1,355.0
-1
1.5
Rank Value
▲
-2.6%
Market
100.054,238.8
2.5
-3
+1
4.9
7.6
+1
1.7
0.1
-14.4
1.7▲
4,104.3
▲
▲
7
▲
▲
0.1
0.1
Credit Suisse
Leonardo & Co 4
7,879.3
▼
-
14
25
14
▲
5
4
8
9
▼
12
10
▼
BNP Paribas SA
▼
13
27.7 ▲
18,276.3
▲
33.5
16.4
26.4
6.0
18,970.7
5.1
0.8
40.5
21.6
4.2
+17
▲
13
-3 0.15.6
3.0
▲
7.7
+8
33.8
1.5
5.1
3.0
+3
+21
32.2
+3
▲
4.3
4.0 ▲
▲
5.3+1
▲
▲
25.3
4.3
+7
▲
+10
▲
39 3.9
▼
7.2
1.7
33.1
45.9
5.2
▲
1.2
5
▼
3.7
▲
2.3
6.9
▲
▲
▲
568
1
5
1
19
7
1
27
6
Citi
17
1.9
RBS
4,021.9
▲
▲
2.1
2.9%
0.9
21.3
11
16.5 ▼
7.5
16*
5,044.5
21
Market
# of Deals per Advisor
21.6
▲
3.3
20.4 5 0.9
▼
-16.5
Change in 2012
Rank
Change in
Banco BTG Pactual SA
Natixis
JC Flowers & Co LLC 22
1.0
6.2
Rank Value per Advisor (US$m)
4 +2 ▲
32
+1
711
# of Deals per Advisor
-10.5%
FeesDeals
Jan 1 – Dec 31
Industry Total
▼
▼
2013
Rank
Market
Eidos Partners
Santander
4.4
▲
-15
+6
▲
▲
▲
10.7
▼
0 -
▼1.1
+4
0.1
0.11
11.5
▲
7.5
-4.2
▲
▲
-3.4 ▼
▼
▼
# of
+4
50
13
19
19▼
▲
15
-19.7
Industry % Change from Last Quarter
KPMG
Credit Suisse 4,232.3
21.6
22.7
22
1215
Banca Agricola Mantovana
72*
23
▲
▼
▲
▲
11
10
▲
Rank Value per Advisor (US$m)
6
Any Nordic Involvement Announced (AD37)
12 12
Citi
14
5.1
2,913.0
4,207.813 6.2
6.7
4.6
▼
19.2
14.7
6.9
7.1 2.8
6.9
-3.7
▼
1.4
7
16 3.2
Lambert Energy Advisory Ltd 11 36
8.1
-6.4
-
Share Ch.
▲
▲
0.6 ▲
▼
+5
-0.6
2.8
+1
+2
0.3
# of Deals
0
▲
0.1
0.6
0.5
+6
29.8%
3.0
3
-15
0.1
16*
ABG Sundal Collier
▲
0.6
▲
2.5
Industry Total 2,179
▲
▲
* tie
-13.2
15.9
16.6
8.6
Industry % Change from Last Quarter
2.5
14.9%
2,570.0
79 1,956.0
2,159.9
▲
20.3
31
6
3,150.0
51
2.5
12.0
▼
▲ 1
3.6
5.7
▲
8▼
▼
3,550.0
Industry % Change from Same Period Last Year
Industry Total
Perella Weinberg Partners LP
Financial Advisor
164.4%
Eidos Partners
Natixis 25
22
1,704.4
24
8
-13.9
31
20
Societe Generale
19
20
921 1,806.2
JC Flowers & Co LLC
4,104.3
18Bank of America Merrill Lynch 3,852.6
3,372.9
-
15
16*RBS
Santander
7.8
10.7
7.6
18 8.5
11
5,816.7
- 4,104.316*
15.2
12.7
8 3
9
20.4
18.710,130.7
6
2
Morgan Stanley
11,047.9
13
Citi
12
Lazard
1
14
HSBC Holdings PLC
Rothschild
26
5
17
11,689.2
12,125.4
10
13
8,637.4
117
12,308.3
UniCredit 4
16,052.7
Deutsche Bank
8,240.8
JP Morgan
Mediobanca
24.113,078.410
7.3
Sh (%)
27.6
US$m
10.47
Rank Value
5
Barclays
BNP Paribas SA
Banca IMI (Intesa Sanpaolo)
3
6 14
▲
# of Deals
+2
14,978.3
2
34.6
Rank Value per Advisor (US$m)
29.6
Financial Advisor
12.04Goldman Sachs & Co 1
Market
18,740.8
2
Rank Value per Advisor (US$m)
37.7
EMEA Rankings
Financial Advisor
Market2012
Rank
Financial Advisor
Morgan Stanley
+2
Deals
Bank of America Merrill Lynch
▼
+4
# of
2
26,155.6 29.7
Market Market
Sh (%)
0.7
Sh (%)
10.5
US$m
▲
11,383.6
9.3
13
12.9
▼8,179.7
-4.9
-5.4
▼
17,883.2
5 4
2.9
2.0
8.68
-0.73.5
3.1
7,528.0
15
34
2,203.4
▲2.1
▲0.4
-3.8
100.0
-
3
2.2
0
-5
2.044
-10.4
0.4
66
3 2 10,002.9
3
1 10 18,355.8
4
6,612.8
22.4
Jan 1 – Dec 31
11
0.8
0.3
0.4
6
14
12
17
0.5
12
-
-2.1%
0.6
1.0
JP Morgan
Goldman Sachs & Co
Industry % Change from Last Quarter
23Nomura
15
▲
-9
2.2
0.6
-8
44,600.0 6.7
10
-
-6
+2
0.5
0.5
0.6
0.1
+7
+4
0
Industry % Change from Same Period Last Year
-131
▼
18.2▲
▲
1.5
https://www.thomsonone.com
+5
1.6
1.8
16.3
▲
-31.9%
1.5
-2.3
▼
▼
2.4
0.3
▼
▼
0.0
1.0
-
43.1
31.0
▲
1.3
▼
0.8
0.3
▼
16
▼
UBS
9.7
Credit Suisse▲
▼
34
-
▲
-5.7 28.0
1.0
Handelsbanken Capital Markets
Nordea
14.8
22.4
7
13
10.4
9.3
30
20
21
4.7
11
2
3,372.9
-5
24
18
Industry % Change from Same Period Last Year
25 3
19
Societe Generale
5.5
▲
▲
11
Banca Agricola Mantovana
11,110.9
54,611.8
18
- 5.53,002.2
▲
6.43,487.0
17.4
7.4 4.1
13,145.2
▲
2.0
24.1
▲
▲
▼
▲
12
3
Market
+16
+4
10
-18.9%
# of
7
▲
▲
44
Jan 1 – Dec 31Any Nordic Involvement Completed (AF44)
Market
US$m
2.8
Sh (%)
62.1
Advisor Market
6.2
▼
1.4
▲
14.7
1.5
▼
0.2
0.0
▲1.3
▼
▼
3.1
0.2
0.8
▼
2.2
▲
▼
▼
0.9
0.2
-
0.6
1.3
1.0 ▲0.9
2.8
-
0.9
1.1
2.4
0.0
0.2
1.0
4.21.1
▲
▲
0.9 ▼
0.6
▲
Share Ch.
▲
3.5
▼
▲
▼
▲
-
1.2
4.7
.0
1.2
0.0
2.4
0.7
▼
2.2
7.2
0.36.4
Share Ch.
▼
▲
17.3
2.4
0.5
▲3.2
2.8
▼
▲
3.6
17.7
14.1
27.6
45.8
634.6
0.6
▼
▲
8.5
0.3
0.9
▲
Imputed Fees (US$m)
1.2
-1 1.2 0.2
▲
7.4
▼
▲16.1%
0.6
5.4
0.7
25.1
▲
0.3
100.0
0.95.5
0.1
▲
▲ 4.0
15.3
▼
0.0
2.2
2.7 0.8
▲
-13
▲
39.9
0.9
0.3
1.4 ▼
▼
35.6
6.3
Rank Value Advisor
18.6%
100.0
-2.8
-1.0
17.0%
13,120.7
Rank Value
0.0
26.9 0.6
▲
0.1
Deals
# of Deals per Advisor
Sh (%)US$m Fees
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
2013
Rank
MarketChange in
Imputed Fees (US$m)
Any Italian Involvement Announced (AD36)
# of Deals
1
Market
▲ Banca IMI (Intesa Sanpaolo)13
2013
Rank
16*
Sh (%)Share Ch. Deals
# of Deals per Advisor
▲
7
1.8
13
▲
24.5
12
▲
5
1.0
13,366.2
4,104.3
11,637.7
15
7.5
42
JP Morgan
Morgan Stanley
Barclays
0.7
2.7
▲
▼
UniCredit
Mediobanca
▼
11,810.3
9.2
14.4 7.0
9
9,227.8
1
7.5
16.9 6.4
-3 ▼
0.2
0
+1
▲
0.7
1.6 +4
0.2
+30.9
-
0.5
▼
+3
0.2 ▲
+3
▼
▼
▲
# of Deals
▼
▼
▼
-0
-6
Sh (%)
13
-1
-1214
SEB
▲
+4
-13
+5
17
24
3
▼ 7
0.1
0.6
19
+2Mizuho Financial Group
Lazard
BNP Paribas SA
DNB ASA
2,741.8
88,045.7
25
24
2,196.9
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Carnegie
Centerview Partners LLC
20Rothschild
15
VTB Capital 16
22
21
23
25
18
3,074.319
PricewaterhouseCoopers
Credit Suisse
Lambert Energy Advisory Ltd 37
17
12
-
10
11
Citi
5,813.3
13
Jefferies LLC
Handelsbanken Capital Markets 12
UBS
14
1.7
5.0
3,223.4
14
4,865.3
-0.6
61
10 5.5
4,386.0
-4.3
4,991.7
5.14,731.0
16 0.35,185.0
5.4
5.9
8.57,484.8
7,212.7118
1.420 5,257.3
8.2
6.0
9
459
2013
Rank
2
4
5
2
2012
Rank
3
3
1 1Goldman Sachs & Co
7
Nordea
3.7 1.3
JP Morgan
6.6
Barclays
Morgan Stanley
SEB
Deutsche Bank
Danske Bank
Bank of America Merrill Lynch
Industry % Change from Same Period Last Year
1.5
▲
65.5
-8
6.5
4.3
▲
24.4%
10,538.5
▼
-1.4
▲
-1.4
▼
-1.5
▼
▼
0.0
4.0
5.8
▲
▲
4.0
10
0.0
0.3
3
9
4
-5.8
25.7
7.5
8,989.3 -12.8
▼
▲
▲
▲
16
39
Rothschild
HSBC Holdings PLC
Jan 1 – Dec 31
10 1.8 +3 ▲ 1.3
Sh (%)
1,729.7 3.2 1.8
0.22,632.0 4.8 3.2 ▲
0.9 0.5 0.3 ▲▲ 3.3
1,368.7 2.5 -27.0
▲
▼
37* 1,428.1 2.6 1.8
3.0 ▼4 0.7 -8 ▼ 2.0
13
HSBC Holdings PLC Rabobank NV
Quarterly EMEA Cross Border Volume
74.0% ▼
7,346.1
5,578.6
▲
11.8
▲
1.9
▼
1.8
-0.4
-12.3
▼
-7.1
2.3
1.4
14
15
20
28
1.7
10.0
9.9
-8.7
▲
-8.3
-13.9
▼
-4.3 ▼
4.4 ▼
▼
15
▲
0.6
1.4
▲
▲
+1
2
10
4
40.3
16.8
3
42,421.0
8
▲6.8
▼
32 2.7
VTB Capital
▼
HSBC Holdings PLC
Jan 1 – Dec 31
Morgan Stanley25
▲
-15
6
-5
▼
23
21
-
JP Morgan
1.9
Santander
1.4
Lazard
2.3
16.3
4.4 2.8
0.2
▲
+2
Nordea
8.0
▼
1,176
53
13
1,415.8
2.0 -
2,654.9
Industry % Change from Same Period Last Year
-13.4%
https://www.thomsonone.com
-11.1%
11.9
▼
▼
Industry Total
▼
100.0
Industry % Change from Same Period Last Year
-761-857
▼-12.2%
▲
Jan 1 – Dec 31 2013
-18.4% ▼▲
3,918.1 2,555.6
▲
▼ Industry % Change from Last Quarter
▼
-10.5%
ABN AMRO Bank0.2
7.5
2,593.0
0.1%
0
7.8
▲2.1
127,633.4
-1.6
▲
3
+1 ▲
▲ 5
▼▲
▼0.8 0.3
0.5 ▲
0.1
0.5
0.6
0.2
2 0.22.7
0.3
0.4
2.0 1.4
4
0.3
▲ 7.1 ▲
1.1
+5
0.6
-2 7.8
▲
▼
27
6
-5
6
0.3
+1
+2
0.2
0.5
2
+11
-1
7
0.5
23
16
2.0
0.11
10.5
18.7
-3.7
▲
-3.5 11
6.9
9.3
28.55
4
33.2
36,321.8
49
11,806.8
12.2
13
-539,605.7
10.8
1.4
2.4
2 56,248.6 44.1 15.9
1 11.8
Goldman Sachs & Co 3
-21.7▲1
# of DealsShare Ch.
20
Market Market
# of Deals per Advisor
Deals Sh (%)
Any Benelux Involvement Completed (AF47)
Rank Value # of
Financial Advisor US$m
Market2013
Rank
Market# of
Share Ch.
Change in
Rank Value per Advisor (US$m)
Sh (%)Deals
2012
Rank
# of Deals per Advisor
14
▼
-6
103.8
81.0
Jan 1 – Dec 31
▲
5.7▼
▲
▲
▼
Change in
70.5% -3.2%
▼
5.7
42.2
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
* tie
Industry % Change from Last Quarter
-6.4%
Rank Value2012
Rank
Market
Rank Value per Advisor (US$m)
US$m
Bank of America Merrill Lynch
61,779.37 17.5 ▲
2 53,202.6
Financial Advisor
Morgan Stanley
2013
Rank
3 1
1
36,590.6
30,993.8
50,598.6
Sh (%)
34.6
2.96
21▲
36.3
▲28.4
20
41,521.2
2
Market
▲ 21
1.6
▼
Sh (%) # of Deals
1.7 -10
+1 ▲
-10
1.4
JP Morgan
▲
14
23
1.4
0.1
21.2
25.012
13.1
15
-
Nomura
UBS
10,228.9
11 6
Credit Suisse
Rothschild
9
6.8
5.8
13
3,801.9
8,619.5
11
716
12
14
ING 14 3.0
Banco BTG Pactual SA
18
3,969.737 3.1
22 3,443.6
23
-
20
35
43*
3,656.719
21 2.7
2.9
1.3
100.0
21
2.1
2.8-
▲
-8 ▼
17
1.2
Industry Total
Handelsbanken Capital Markets
3,475.5
Houlihan Lokey
3,620.8
-23
0.8
0.4
▲
-2
0.8
2.3
▼
▼
-13
15
▼
1.0
12
1
-2
+10.1
▼0.4
+2
▼
3
▼
0
0.3▲
-2
0.1
▲
100.0146,420.5
4,937.8 ▼
▼ 3
3.4
-1.2 25
24
2.7
11
5.9
▲
2
▼
6
28
0.5
▲
▲▲
▲
4
▲
▲
1,453
▼
137.0
33.8
30.9
15.8
25.2
▲
4.1
2.4
▲
▲
▼
▲
▼0.1
0.7
7.3 3.0
Advisor
Fees
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Goldman Sachs & Co
Any Benelux Involvement Announced (AD40)
Sh (%)
+6
1.44.0▼
▼ 4.1
1.6
-1
28.0
27.8
▼
▼
Imputed Fees (US$m)
60.5
63.7 1.2
-22
-6
▲
0.8
-
▼
1.0
+3
▲ 8.9
19.4 1.4
0.02.2
+1
▼
0.3
34.1▼
3.3
4.1
46.0
2.434.3
▼
▼
0.6
▲
+2
0.9
0.6
-5
+3 ▲
0.3
▼
3.9
1.8▼
1.1▲
1.3
0.6
▲
26.2
2.4
55.9
57.9
2.5
0.3
1.8
▼
2.0 ▲
0.2
2.0
▲
▼
4.5
Market
Share Ch.
4.3
EMEA Rankings
9.7
Market
7.9
-10
17
-5▼
1.2▲
▼
▲
60
6
20.3
▲
13,398.3
▼
BDT & Co LLC
15,563.0
BNP Paribas SA
▲
22.2
31.0
-1525,898.9
▲ 12
-13.6
9.1 7
12,777.0
9
▲
10
Citi
+5
▼
▲
21
-7
1.0
▲16.6
Barclays
▼-2
▲
-1
-4
+3
-10
▲
51,482.5
23,889.9
5
Bank of America Merrill Lynch
28,302.0
-3
1.4
-4
Deutsche Bank
8
1.0
▼1.7
2.1
1.4
▼
Leonardo & Co
▼
+21
1.2
0.5
10.8
▲
31
25
18
8.2
▲
-2.3
Rothschild 5.7
▼
UBS 7
▲
14
5
14
34
BDT & Co LLC
7
7.3
8,619.5
5.27,670.9
13,707.5 ▲
19,170.6
ABN AMRO Bank
4
8
▼
BNP Paribas SA 11 9
13
18
▲
Credit Suisse
Barclays
9.4
Leonardo & Co
8 4
20
9
Lazard
6
Citi
8.5
16,026.8
ING
14
17,021.3
34
12
Rabobank NV
22 16
59
10
17
102
15
16
11
27
23
5
-17
18
15
19
Societe Generale
5,566.0
Phatra Securities Co Ltd -
21
24
20
8,533.323
Deutsche Bank
Credit Agricole CIB
4.46,383.0
3.4
KPMG
Banco BTG Pactual SA
5,484.9
Deloitte
3.8
11.0
10.5
15,931.7
15,432.7
3.8
3.8
10.9
14,480.4 9.9
-21.5
-0.4
3.5
EMEA Inv. Announced M&A Target Sector by Value ($bil)
3
9,118.3
3.6
Sberbank CIB 25
26
11.8
6.2
23,870.2
1.6
14
17
-19.9
4.9
11.6 1.9
1.3
1.3
0.9
1.2
5,571.4
17,319.4
5.8
5.9
$202.2
$146.2
$111.0 $104.2
$78.6
$73.5
$62.9
$56.1
$46.6
$41.7 $28.2 $26.6
Telecommunications Energy and Power Financials
Industrials Healthcare Real Estate
Materials Media and Entertainment High Technology
Consumer Staples Consumer Products and Services Retail
Government and Agencies
`
0
500
1,000
1,500
2,000
2,500
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4
2005 2006 2007 2008 2009 2010 2011 2012 2013
# o
f D
ea
ls
Rank V
alu
e (
US
$b)
Inbound (US$b) Outbound (US$b) Number of deals
14
Imputed Fees earned for the region were estimated at US$2.3 billion, a 3.7% decrease from the volume recorded
during 2012, according to Thomson Reuters/Freeman Consulting. The top earner was Goldman Sachs & Co with
US$169.4 million, followed by J.P. Morgan with US$117.8 million and Morgan Stanley with US$117.1 million.
China cross-border activity accrued US$100.3 billion, an increase of 6.3% from the US$94.4 billion recorded in
2012. Outbound investment volume recorded US$63.3 billion, an 11.3% increase from the US$56.9 billion in the full
year of 2012; the Energy and Power sector led the market in outbound activities with a 42.3% share.
14.9
748 6,859.7
1
4,572.5
15.4
8.0Somerley Ltd
China / China
Morgan Stanley
Industrials
GD Midea Holding Co Ltd (58.83%)
3,293.8
Kashagan Oilfield (8.3%)
Jan 1 - Dec 31 2013
10.24,509.8 5
Jan 1 - Dec 31 2013
14
6
4.6
JP Morgan
10
12.3
3Real Estate 59,000.6
4,702.0 3
18.9
29
11.5
7.8
17
Consumer Staples / Household & Personal Products9/18/2013
Financials / Banks
3
6
2
1,411 5,136.6
1,211
HSBC Holdings PLC 4
3,116.9
4,966.0
Consumer Staples / Agriculture & Livestock
6.5Deutsche Bank
Asian Completed M&A by Region - Imputed Fees
7
Acquiror / Target Nation
Top Ten Any Asia (ex-Japan) Involvement Announced Deals
Acquiror
Smithfield Foods Inc (100%)
Thailand / Thailand
United Kingdom / India3,654.7
Telecommunications / Telecommunications Equipment4,210.0
Siam Makro PCL (64.3%)
Hindustan Unilever Ltd (14.78%) Unilever PLC
4/1/2013Pending
Consumer Staples / Household & Personal Products
Materials / Metals & Mining
Energy and Power / Oil & Gas
4,044.74,077.8
4,318.34,916.1
4/30/2013
4/23/2013Midea Group Co Ltd
PendingPending
9/27/2013 Pending7/26/2013
CNPC
9/24/2013
Asia Pacific (ex-Japan) Deals Intelligence
China Cross Border Announced M&A
3/13/2013
9/26/2013
ENI East Africa SpA (28.57%)
Asia (ex-Japan) Involvement Announced Advisors by Target Industry
Announced M&A activity with Asian involvement in the full year of 2013 accumlated US$459.9 billion in value, a
1.6% increase over the US$452.7 billion recorded last year. Companies in the Energy and Power sector were the
most targeted, with US$71.8 billion accumulated from 651 deals. Materials followed, accruing US$61.2 billion, and
Financials trailed close behind, with US$59.7 billion.
Baotou Iron&Steel(Grp)Co-Asets (100%) China / China
12/18/2013 Bank of Tokyo-Mitsubishi UFJ
PetroChina Co Ltd China / Mozambique
Inner Mongolia Baotou SteelChina / ChinaBeijing Zhongchuang TelecomBeijing Xinwei Telecom Tech (96.5%)
Shuanghui Intl Hldg Ltd 6,977.35/29/2013
China / KazakhstanBank of Ayudhya PCL (72.01%)
5,000.012/31/2013
9/7/2013
China / United States
5.7
16.7
13,514.6 Goldman Sachs & Co
16
1,012
35.17
561,246.1
8,834.4 10,684.1 Goldman Sachs & Co
Credit SuisseEnergy and Power 651
No. DealsRank Val US$m
71,756.8 Share
Mkt.
Rank
2
Materials3Morgan Stanley
11,063.5
8.4
China International Capital Co
2
Morgan Stanley
59,726.2 Financials32,797.5 UBS
4
Morgan Stanley 1Bank of America Merrill Lynch
50,564.8 7
13.48,015.1
2
Rank Date
Deutsche Bank
1
Australian announced M&A activity increased 22.5%, reaching US$107.2 billion as compared to the US$87.5 billion
accumulated last year. Australia cross border activity totalled US$43.1 billion; inbound investments into the
Materials sector led the market, with a 27.8% share, while outbound activity amounted to US$13.7 billion.
Date Effective Target (% Sought/Acquired) Target Macro / Mid IndustryRank Value (US$m)
7/2/2013Energy and Power / Oil & Gas
COFCO Land Ltd-Assets (100%)Retail / Food & Beverage RetailingCP ALL PCL
3,573.4The HK Parkview Group LtdPending
Japan / Thailand 5,315.5
7/4/2013Hong Kong / China Real Estate / Other Real Estate
https://www.thomsonone.com
Asian M&A Rises 2% I Imputed Fees Down 4% I Australian M&A Up 23%
9,979.0
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Asia Pacific (ex-Japan) M&A
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
0%
20%
40%
60%
80%
100%
$0
$10
$20
$30
$40
$50
4Q
07
1Q
08
2Q
08
3Q
08
4Q
08
1Q
09
2Q
09
3Q
09
4Q
09
1Q
10
2Q
10
3Q
10
4Q
10
1Q
11
2Q
11
3Q
11
4Q
11
1Q
12
2Q
12
3Q
12
4Q
12
1Q
13
2Q
13
3Q
13
4Q
13
% O
utb
ound
Rank V
alu
e (
US
$b)
Outbound (US$b)
Inbound (US$b)
% of Cross Border is Outbound
$0.0
$0.1
$0.1
$0.2
$0.2
$0.3
$0.3
$0.4
$0.4
$0.5
3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13
Imp
ute
d F
ee
s (
US
$b
)
North Asia South Asia Southeast Asia Australasia
15
CITIC Group Corp RBC Capital Markets
Credit Suisse Bank of America Merrill Lynch
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
1.8 0.0
15.8%
9,481.7
Sh (%)US$m
Rank Value per Advisor (US$m)
▲
Asia (ex-Japan) Rankings
▼1.6%
Jan 1 - Dec 31
10.0
Industry % Change from Last Quarter
Jefferies LLC
6
▲
11
Rank Value
+13
Jan 1 - Dec 31Any Asia (ex-Japan) Involvement Announced (AD25)
UBS 38,946.41 7
25 39 4,437.5
3
6
Morgan Stanley
5
Goldman Sachs & Co
4
JP Morgan
Macquarie Group 2
-
1
22
3
13
4
2
Rothschild
+6
1
▼
7
8
-1.6
+2
10
▲
0.2
-1.7
▼
-1
4,663.421
7.8+6
▼
Rothschild+4
Barclays
1.1
3,649.4
+4
-2
▲
109.2
▼
-3.5
-0.3
▲
10.6
8.5
6.7
▼
▲
14
EA Markets LLC 8
9
-0.15.9
1.4
6,415.1
14
# of
43
1
12
12
0.7
3.7
1.0
11
24
Change in Market
Share Ch.
▲
Fees# of Deals Sh (%)
114.9
Advisor
+5
▲
# of Deals per Advisor
-5.1%
Share Ch.
Imputed Fees (US$m)
Deals
Market
Sh (%)
2013
Rank
MarketMarket2012
Rank
ING 148
-7.2% ▼
Jan 1 - Dec 31
8.3%▼
Any Australian Involvement Completed (AF31)
▲
▼
Industry % Change from Last Quarter
▲5,265.7
▼
37.41.2
-5 62.12.1
▼-11
▼0.6
▲4.112.7
Market
6.9
▼-3.7%
▲1.0 0.911
-11.4%
0.1-
0.2
-5,282100.0
▲ 2 0 -Phatra Securities Co Ltd
+425
0.01.7
1.7 22.8▲1.61.0
14
0.2
▲
4
0.51.0 0.2
▼ Malayan Banking Bhd
118*
100.1
1.624+10Woori Invest & Sec Co Ltd
4,660.8
24 48 4,590.6
0.4China Securities Co Ltd 22 51 4,910.9
▼0.6-15Evercore Partners 23 36 0.7▼ 14.3-0.7
1.1 ▼+7 ▲ 53.7 2.46,550.6 2.1 320.4
17.0
23 ▼1.8-4 5,611.9 0.2
▼
2.4
0.7
-7.3
0.9 ▲▲ 28 0.6 +1
▼
0.50.8-1.1 ▼
▲ DBS Group Holdings▼
Somerley Ltd
71
▲7,436.3
0.3 0.07
▲ 82
▲ 0.1
1.8 ▼
-6Rothschild 20 14 5,934.2 1.3
0.3Southwest Securities Co Ltd 6,293.8 ▲
0.00.2
0.5-1519 42
7,055.6 KPMG1.5 1.2
1.4
-9 2.68,308.1 0.4
PricewaterhouseCoopers 33+17
14
▲12.3 0.1
-0.80.2 21
1.0▲ 2.4
Lazard 17
4.4-218Haitong Securities Co Ltd
7,859.1 1.7 0.9
62
0.1+3
▼▲ 37
17 +48,953.6
▼ 18
-0.1 ▼
▲▲
3.0
2.8 2.8
0.4
▲ 8.7 +00.46
10.1+1
0.3 12
-0.3 3.0
▼ 1.6 0.0
Standard Chartered PLC 16 21 8,897.1 1.9 116 ▲ 0.0
0.6
0.9 ▲ 0.726.9-70.4 1.2 ▲17
36.8-30
0.4 ▲
27
▲
-
▼
Macquarie Group 15 27 10,758.2 0.9 ▲2.3
Phatra Securities Co Ltd 14
0.8 ▲
12 9 13,137.4 4.2 -1.8
1.7
Deutsche Bank
▲ 38 0.4 38 0.8
0.4 +1 ▲ Deutsche Bank 2.1
+4298* 12,000.9
▼
25 12,858.0
2.6 2.6
3.4
▲
12 10 15,727.1 0.7
-6.4 ▼ +18 ▲13 ▲ 38.1
▼
3.8
0.5
▲ 2 0.0 0
11,916.4
▼-7 ▼ 48.2
-5.6
25
0.1 ▼26.5
▲1.7▲ 39.2
0.5China International Capital Co 11 3.5238 1.2
52
BMO Capital Markets3.5 ▲
10 32 16,403.8 3.6 2.5
4.2 2.50.5 +9 ▲
▲ 0.1
▲
1.35 +1
4.4
19,004.6▲ 10 6.0 5.2
6.5
Citi 8
Credit Suisse 9 6
+7
4 21,450.9
19,847.1
0.4
95.74.3 52 22Barclays 90.6 +4 20,566.2 24
Bank of America Merrill Lynch40
▼-5.1
6.620,785.1
▲
▲0.7 ▲ 28 3.3 0.6
▲
0.6 +9 ▲ 76.3
▼+5 ▲ 89.9 1.33.923,024.3Credit Suisse 7
10
0.4
80.5 -20 ▼
-5.8 ▼
25 0.5
0.9437.3
▼▲2.9 46.2
65.533 ▼▼-6.3
+1
▼0.7 -6
2.0 0.3
2.9 2.4
▼-4
HSBC Holdings PLC 7 23,120.6 5.0
28,507.0
3
6+746 0.5
7
33 0.4
9.0
5 28,577.8 9.0
HSBC Holdings PLC 8
1Barclays 5 13 24,937.0 5.4
034 0.76 30,752.1
▲
-7.0 ▼
4
1.2 +4
JP Morgan
UBS▲
▼ 5.2117.8-▲
75.7 ▲
61
0.9
-4.4 0.7 +18
3
▲0.9 1.9▲ 9.7
▼-0 0.1
▲0.40.9 -5 ▼ 117.1 5.1
13.3
49,349.0
0.9 4.74042,014.8 5.5
▲
106.9▲
40
1.3▲2
-13.1
-3.5 0.655
4
3.1
-10 ▼ 2Morgan Stanley 15.6 3.3
US$m
Morgan Stanley 1 2 44,849.1 6018.357,863.51
2013
Rank
-
MarketChange in Advisor
▲7.4 1.5169.40
Share Ch.
# of Deals per Advisor
Deals Sh (%)
Market
Financial Advisor
Change in
# of Deals
# of 2012
Rank Sh (%) Deals
# ofRank Value
Share Ch. Sh (%)
Market
US$m
MarketMarket Market
# of Deals FeesSh (%)
Market
6.3
Financial Advisor Sh (%)
9.8
Rank Value per Advisor (US$m)
Market
Share Ch.
Goldman Sachs & Co
3.3
▼
3.130
29
0.1 14
CIMB Group Sdn Bhd
CITIC Group Corp
9,789.2
Bank of America Merrill Lynch 3 11 26,345.5
▼ -9
0.7
Goldman Sachs & Co
Imputed Fees (US$m)
▼
5.5
UBS 6
25,416.8
Rank Value per Advisor (US$m)
2013
Rank
2012
Rank
Rank Value
5
64
CIMB Group Sdn Bhd
Somerley Ltd +82.8
▲
2 1 29,155.3
-1.5
1.1
Any Asia (ex-Japan) Involvement Completed (AF32) Jan 1 - Dec 31
# of Deals per Advisor
3
JP Morgan 4
24,896.8 5.4
-3.7 32
-2.5 ▼15,908.4
▲
5,399.5
-2.0 0.4
0.3
24-0.1
0.220
0.7
2.1
34
2.4+13
▲ -3.1
29
7,489.4
1.4
0.8
Industry Total
-0.11,094.6 1.0
0.8
▲
25
22.5%
Industry % Change from Last Quarter 96.4% ▲
9,100.7
2
0.1
EA Markets LLC 12
Northington Partners Ltd
14Barclays
Fort Street Advisers
ANZ Banking Group
Gresham Partners
Greenhill & Co, LLC
KPMG
Industry % Change from Same Period Last Year
107,199.7
24 967.3
28
886.6
1.1
+29 ▲
23
1,201.6
100.0
Nomura
Rank Value per Advisor (US$m)
-1
21.5%
315,974.2
5,447.5
11
Industry % Change from Same Period Last Year
9,385.9
▲
17
▲
+10 ▲ Citi30
7,590.6
11+1441 17,711.1
▼
0.3
8.6 ▲
1.8
2.7
-1.7%
34
▼
33
24.8
36.3 ▲
# of
-155
10.8%
100.0
Sh (%)
Rank Value
Financial Advisor
Market
Deals
▲
38
21 16
34
Change in
-2 ▼
US$m
▲
Any Australian Involvement Announced (AD24)
2013
Rank
2012
Rank
Market
▼
30
2.2
45
# of Deals
# of Deals per Advisor
0.0 -3 ▼
37
0.1 5
▲
4.7
▲
▼-6.8
▲
5
1.2
9
Share Ch.
28.2
Market
0.6
▲
Sh (%)
1.0
Citi 11
Bank of America Merrill Lynch
9
13
3.4
4.429
5
10
Deutsche Bank
11,407.1 8.9
22.1
18,806.8
7
12
Lazard 198
10,145.9
18,505.8
▲
25,093.5
21,567.6
23,639.7
9.5
▲
▲
26,562.5
17.3
13.8
▲ 0.6
14
20.1
0.9
0.6
0.8
10
23.4
17.5
12
9,842.6
▲
▲
8.7
14.8
18.7
12.4
Macquarie Group
+12
▲+5
▲
Morgan Stanley
Financial Advisor
UBS+14
-22
15
China International Capital Co
22Rothschild
Industry Total
Ondra Partners
5
▲
▼
20
21
194
30
United Overseas Bank Ltd▲
19
10,432.8
13
18
1.0
▲
▲2.5
▲
-
▲
0.2
▲
▼
▲
0.7
8
10
9
0.6
1.7
0
0.3
▼
▲
1.4
1.8
+4
0.1
-
▼
▲
▼
4.1
2.3
7
▼
▼
▲ 32.4
2.1
0.9
▲
+3
+1
0.2
+3
-12
18.8
▼
▲1.4
2.6
8.2
▼
23.2
▼
24.1
3.6
0.8
▼
3.6
2.3
0.8
1.0
0.9
20.4
0.9
5.5
0.1
▼
1.4
-1
21.0
▲ 22.6
2.7
12.4
▼
▼
906.9
-8.9%
▼
10.0
7.1
▼
1.9
0
▼-3
1.1
▼
1.5
-6
2.4
32.3
-2 ▼
21.6
0 -
▼
+1
▲
Industry % Change from Last Quarter
Industry % Change from Same Period Last Year
▲
0.7 ▲
▼
0.6
+6
-26.1%
1,078.8
1,014.9
988.6
1.6 ▲
-5.7
61,690.5 100.0
▼
15
-
2.0
4,800.0
5.67.6
7.8
▲
10.4
4.9
▲
8Lazard
Deutsche Bank
6
7 6,178.3
5
4
18.91
2
7,252.6 11.8
Goldman Sachs & Co 2 11,654.4
▲10 +4 Credit Suisse 5
3
4
7.7
10
-8.3
5.2
1 18,731.2 30.43
7,693.9
15.4
-3 ▼ 49.612.5
8,717
-8.8 ▼
15
0.7
▲
-6
14
11
▲
▼
▲
1.0
0.5
17
0.8
8
0.7
8
9
4
▲ 1
-280
969.5
1.7
1.6
-0.7
-1
0
22
12
1,740.6
Moelis & Co
1.7
▲
3.8
2.8
1,045.3
1,078.8
6.0
2.1
1,229.7 2.0
1.8
3,686.8
11
1.7
▲
Canaccord Genuity
Haywood Securities Ltd.
1.5
▼
▼
0.6
2017
7
+1
▲
40
11
1.1
52 0.6
4
3
1.8
1,288.5
+1
18
7
3.1
4.4
Greenhill & Co, LLC
▼
2,706.3
14
1713
2,356.2
12
-0.3
2.5
2,589.6
1,900.4
-1.1
▲
29
▲
3,354.0
2,215.6
16▼ KPMG
4,716.9
1.3
1.5
▼
0.6
9
Evercore Partners 2.1
3.11715
88 1,502.6
16 21
25
Investec
17
20
CIMB Group Sdn Bhd
20 +6
19
18
0.3 17
1.4
1,427.8
11
1,400.3 1.3
1,900.4
+1-
1,620.6
▲
▼
0.1
22
Banco BTG Pactual SA
22
85*▲ 190.4
-
21
Ernst & Young LLP
1.8
1.3
0.2
0.9 ▲
1.1
1.3
▲
9
▼
▼
0.7
2
+11
-14.4% ▼
▲
-1
Fort Street Advisers
BMO Capital Markets
▲
24
▲
-7
▲
1.0
0.5
+10.1
▼0.1
0.6
0.8
▲
4.5
15
▲
-4
3
14,800.0 4.5
Evercore Partners
▲3.6
Citi
3,683.2
-4.4
4.2
0.5
-1 ▼
+4
16
0.1
0.5 -
1.2
▲3.1
31
0.1 ▲
0.3
1.1▲
▲
0.1
▼0.6
1.0
7
▲
▲
0.1
▲
▼
0.7
▲
▲
0.3
▲
▲
0.3
100.0
https://www.thomsonone.com
78.7%
▲
-8.5%
1.1
1.2
▲
* tie
1.1
-18.9%
-
▼35
0.50.3
201.4%
-1 0.1
0.8
1,168 -272
-0.3 3
-0.1
1.8
8.8▼
▲
1
1.7
▼
▲ 2
▼
10.7
1.4
2.7
▲ +10.2
-5
17
1.0
3.2
7
0.3
+1
▲
0.3
0.1
0.4
100.0
0.3
0.2
+4
12.4
▲ 1.1
▲+2
▲
4,681 2,285.0
▲ 1.1
10.2
18
Ernst & Young LLP
20*
1.8
2
-0.2
1,088.1
ANZ Banking Group
RBC Capital Markets
25
Industry Total
20*
1,667
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23
76
0.3
Standard Chartered PLC
▼ 23
-33.6%
▲
Investec
▲
Industry Total
Industry % Change from Same Period Last Year
459,881.9
16
▼
▼
▼
30.1
886.6Northington Partners Ltd
1
14.0
2
Any New Zealand Inv Announced (AD39)
UBS
26.7-
* tie
Asia (ex-Japan) Buyside Financial Sponsor Activity
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
+1
2.4
1.0
Jan 1 - Dec 31
Rank Value per Advisor (US$m)
+1
Deals
2012
Rank US$m
1,794.1
# of
▼
MarketMarket
Change in
▲
Market
# of Deals
5
0.5 ▲
-3
+22
Fees# of Deals
Industry Total
11.3
3.8
▲
30.1
-
2.6
5.7 5.7 ▲
Industry % Change from Same Period Last Year
3
▲
30.1
5*
30.1
1
32.8
12.2
26.7
- ▲
5
2013
Rank
1 1 ▲
Rank Value Market
Share Ch.Sh (%)
51.1
Industry Total
15.8943.4
8
1,794.1
Goldman Sachs & Co 4
Bank of America Merrill Lynch 2*
Financial Advisor
1,794.1
14.9
Any Asian (ex-Japan) Involvement Announced M&A by Target Industry ($bil) Australian Cross Border Announced M&A
US$m
2012
Rank
▲
12.3
3
Sh (%)
Any New Zealand Involvement Completed (AF46)
▲
6,717.2
Deals
Rank Value
Sh (%) Share Ch.
Market # ofMarket
53.0 ▲
160.0% ▲
2,204.7
1,006.5
4
UBS
Jan 1 - Dec 31
1.4
Sh (%)
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
2013
Rank
0.62*
▼
Market
-1
Imputed Fees (US$m)
940.8
10.2
1
3,158.4 -
Share Ch.
▼
5.2
2.9 2.9
▼
90.9
▲
10.4 2.0
-0.5%
▲
2.0
100.0
▲
1 2
Barclays -
-
MarketAdvisor
▲
-22
+2
Change in
▼
Asia (ex-Japan) Rankings
Financial Advisor
1.4% ▲
3.5
Sh (%)
▼
15.0
3,432.3
-2.8
https://www.thomsonone.com
32.8
▼25.7
-9.6
# of Deals per Advisor
▲
-
-4
208
+1
2.5
-4.9%
3.1
4
5
1
2.4 ▲
Industry % Change from Same Period Last Year 24.3%
0
0.6
▼
9.5
100.0
Rank Value per Advisor (US$m)
Industry % Change from Last Quarter
# of Deals per Advisor
-9.6%
5Macquarie Group
Bank of America Merrill Lynch
Goldman Sachs & Co 4
2Barclays
Industry % Change from Last Quarter
-0.0%
0161
58.7% 0.0%
5,958.1
9.1% ▲
100.0
▲12.2 2.21.2 02
Fort Street Advisers 5* - 886.6 14.9 14.9 7.3 7.3 ▲▲ 1 0.6 +1 ▲ 6.6
16%
13%
13%
13% 11%
9%
8%
4%
3% 4%
3% 3%
0%
Energy and Power Materials Financials
Real Estate Industrials Consumer Staples
High Technology Healthcare Telecommunications
Media and Entertainment Retail Consumer Products and Services
Government and Agencies
0%
20%
40%
60%
80%
100%
$0
$10
$20
$30
$40
3Q
09
4Q
09
1Q
10
2Q
10
3Q
10
4Q
10
1Q
11
2Q
11
3Q
11
4Q
11
1Q
12
2Q
12
3Q
12
4Q
12
1Q
13
2Q
13
3Q
13
4Q
13
Outb
ound
Rank V
alu
e (
US
$b)
Outbound (US$b)
Inbound (US$b)
% of Cross Border is Outbound
$3.5 $6.4
$8.4 $3.8
$13.9
$1.5
$7.7
$14.8
$8.9 $6.0
$3.2 $3.3
$9.6
$5.5
$10.0
$10.1
$8.2
$9.0 $18.1
$0.8
$5.5
$9.9
$4.4
$6.0
$9.1
$12.8
$14.6
$17.7
$4.3
$5.5
$11.6
$4.1
$5.6
$17.7
$9.7
$4.7
$11.2
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
$0
$10
$20
$30
$40
$50
$60
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
% o
f A
sia
(ex-J
apan)
Volu
me
Rank V
alu
e (
US
$b)
Q4 Volume (US$b)
Q3 Volume (US$b)
Q2 Volume (US$b)
Q1 Volume (US$b)
% of WW FS Volume YTD
17
Deutsche Bank
High TechnologyMizuho Financial Group
* tie
https://www.thomsonone.com
Mitsubishi Motors Corp (%)
Robeco Groep NV (90.01%)GlaxoSmithKline PLC-Lucozade (100%)
Suzuki Motor Corp (%)
Hitachi-Thermal Power Business (100%)
2,077.9Sumitomo Mitsui Trust Holdings
Industrials / Automobiles & ComponentsFinancials / Asset Management
Goldman Sachs & Co1
Industrials / Machinery
Industrials / Building/Construction & Engineering
Any Japanese Involvement by Market
48.72,107.9 4,071.3
21.4
52.1
232
Sumitomo Mitsui Trust Holdings (11.25%)
Bank of Ayudhya PCL (72.01%)Grohe AG (87.5%)Resona Holdings Inc (33.2%)
Japanese Involvement Announced M&A - Top Advisors by Target Industry Jan 1 - Dec 31 2013
23,753.7 Financials
16.7
7,006.8
22,282.1 3
8,362.3
Japan / United Kingdom
Japan / Thailand
Japan / Netherlands
2,887.6
Financials / Banks
Japan / JapanIndustrials / Automobiles & Components
Consumer Staples / Food and Beverage
Japan / Japan
3,959.8
2/19/2013
3/11/2013
Intended
9/9/2013
12/10/2013
Japan / Japan
2,593.0Suzuki Motor CorpORIX Corp
Financials / Banks
25.22
Industrials / Machinery
Japan / Japan
5,315.5United States / Japan
2,859.9
Jan 1 - Dec 31 2013
3,937.6Japan / Germany
5.8
29.5
6
45.9
5 28
510
19.0
7 160
197
10 11
4.8
2
4
21
428 10
5.1
Mkt.
Share
7 25.238.4
No. Deals
Japan Deals Intelligence
8,274.2
5 3
Rank
18,027.8
5 Real Estate
Bank of Tokyo-Mitsubishi UFJInvestor Group
Acquiror / Target Nation
Suntory Beverage & Food Ltd
6,986.7
Rank Value (US$m)
Investor GroupMitsubishi Heavy Inds-ThermalResona Holdings Inc
3,277.3Intended
7/1/2013
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Japan M&A
Japanese M&A Down 25% | US Most Targeted by Japanese Firms | Inbound Lowest Since 2001
1,299.1
1,582.3 1
54.9
Rank Val
US$m
9
Goldman Sachs & Co
Mizuho Financial Group 1,393.9 Nomura
23
2
Sumitomo Mitsui Finl Grp Inc
Industrials
12,601.0
Any Japanese Involvement Announced M&A
Tokyo Electron Ltd (100%)9/24/2013
AcquirorTarget (% Sought/Acquired)Rank Date Date Effective
Top Ten Japanese Involvement Announced Deals
9/26/2013
Pending7/2/2013
6/11/2013
12/18/2013
IntendedPending
5/10/2013
2,119.03/8/2013
PendingFinancials / Banks
2013 Any Japanese involvement announced M&A activity decreased 24.6%, reaching US$134.9 billion, compared
to the US$178.9 billion accrued in 2012. The number of deals slightly increased, to 2,876 deals from the 2,856
announced in 2012.
Japanese outbound volume dropped significantly, falling by 15.7% to US$48.7 billion, compared to the record-high
volume of US$83.3 billion reached in 2012. By number of deals, Japanese outbound activity decreased 15.7%,
recording 609 deals as compared to the 722 deals announced last year. While outbound activity during the first half
of 2013 remained relatively slow (totaling US$15.2 billion) volumes surged in the second half, reaching US$33.5
billion, nearly double the first half total.
United States was the most targeted nation by Japanese firms in 2013, with deal value reaching US$99.2 billion, a
38.3% market share. The largest outbound deal announced in the fourth quarter was the US$1.6 billion acquisition
of ThyssenKrupp Steel by an acquiror group comprised of Nippon Steel & Sumitomo Metal and ArcelorMittal.
Despite a record low deal volume of only 109 Inbound deals in 2013, the lowest since 2001, the total accumulated
deal value remained almost unchanged from last year. Applied Materials’ US$7 billion merger with Tokyo Electron
was the largest any Japanese related transaction in 2013.
According to Thomson Reuters/Freeman Consulting, total estimated fees generated from completed Japanese
involvement deals reached US$1.4 billion, a 22.9% decrease from 2012.
10,894.4
27,293.2
Daiwa Securities Group Inc
2,565.0 1Materials 11,986.5
Sumitomo Mitsui Finl Grp IncNomura
32,843.2
2,006.7
1
12,374.8
3
Mitsubishi UFJ Morgan Stanley 1Bank of America Merrill Lynch
Bank of America Merrill Lynch
2
Mitsubishi UFJ Morgan Stanley
Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables
Japan / Japan
Target Macro / Mid Industry
11/6/2013Pending
1,260.0 3 15.1 1 The Raine Group LLC
Applied Materials Inc
$27.0
$71.1
$26.9
$50.4 $34.0
$23.5 $35.1 $38.8 $37.0
$25.6
$27.6
$38.3
$51.8
$31.1
$37.2
$21.6
$19.2
$45.9 $40.1
$32.9
$18.1
$31.5
$22.5 $28.7 $47.6
$42.4
$50.3
$50.1
$42.4
$39.3 $18.9
$42.3
$48.5
$51.9 $28.6
$38.8
$30.3
$50.5
$59.3
$37.3
0
500
1,000
1,500
2,000
2,500
3,000
3,500
$0
$25
$50
$75
$100
$125
$150
$175
$200
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
# o
f D
eals
Rank V
alu
e (
US
$b)
Q4 Volume (US$b) Q3 Volume (US$b) Q2 Volume (US$b) Q1 Volume (US$b) # of Deals
100
200
300
400
500
600
700
.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13
# o
f D
eals
Rank V
alu
e (
US
$b
)
Domestic Inbound Outbound Outbound Inbound Domestic
18
Imputed Fees (US$m)
Financial Advisor
Credit Suisse
Industry % Change from Same Period Last Year Industry % Change from Same Period Last Year
Industry % Change from Last Quarter Industry % Change from Last Quarter
Japan Rankings
3.6
20,977.0
Jan 1 - Dec 31
# of Deals
-14
0.7
MarketRank Value
Sh (%)
Change in
-3.1
-4.3 ▼
Share Ch. Deals
38,285.1
23,446.7
15.6
22,996.2
US$m
5
Market2012
Rank
56
Sh (%)
28.4 1.6
# of Deals per Advisor
▼
▼
▲
17.0
23-9.917.4
▼
▼
-17.5
Daiwa Securities Group Inc
Bank of America Merrill Lynch
Mizuho Financial Group 6 1
2
6
3
14
5,519.4
BNP Paribas SA
Citi
31
GCA Savvian Group Corp
13
17
9.7
8.116
6.4
4,529.6
8,694.0
15
8
12
4
18,119.9
3.4
10
10
3
4.0
4.1
13,131.9
JP Morgan
Financial Advisor
7
11
10,947.3
0.5
Plutus Consulting Co Ltd ▼
Development Bank of Japan Inc
▼
9
4.8
-26.5
Credit Suisse
125.3 ▼ -8
-9.1
# of
Any Japanese Involvement Announced (AD19)
2013
Rank
2013
Rank
Rank Value per Advisor (US$m)Rank Value per Advisor (US$m)
Share Ch.
Market MarketAdvisor
Sh (%) Sh (%)
MarketMarketMarket2012
Rank
Change in
# of Deals
# of
Sh (%) Share Ch.
# of Deals per Advisor
US$m
Rank Value
Deals
Market
Fees
7 40,712.6 30.9
48,573.8
75.7▼
▲
103 35,520.7
2
1.9
0.8
-51 ▼
-50 ▼
▼ ▲
▼ 1.1-0.3
Goldman Sachs & Co
Bank of America Merrill Lynch 26.963
-15
-98 0.4
1
6.0
+19
1.2
2.5
21
49.3
0.4
11.4
59.1
15.4
156
-8
▼
▼
-4
11.9
20.5
144.3
1.2
▼
0.3
0.1
▼
23.7
0.4
▼
3.6
1.8
16.6 ▼
▼
▼
10.4
▼
-
▲
▲
▲
▲
3.0
1.5
0.8
4.3
1.4
1.1
1
3.5
7.9
48.2
24.5
0.3 -3
2.5
0.8
-14
0.1
+18
-
▲
3.3
0.8
▲
2.5 0.2
▲
4,515.9 3.4 1.8
1.7
▲
18
4,228.8
0.313
▼
8▲
-2.6%
23*
▲
2.7
23* 2.7
-22.9%
22 2.7
▲0.3- ▲ 5 +5
-13.6%
1,848
-9.0%
▼
-290
https://www.thomsonone.com
-
-36.9%
▼
13.3
▲
▲0.9
▲
▲
1.5
0.4 +8
19 33
1.7
▼
▼
17
28
11
0.3
▲
▲
1.9
130.8 9.5
▼
▼5.5
3.3
79.2 5.7 0.3
1.9
0.9
1.8
-
0.5
▼
1.5
▼
0.3
1.0
-108.9
▼
0.1
▲
-
1.0
0.5
77.7
▲
▲
▲
▲
▼
▼
8
▲
-
0.2
5.6
0.7
4.9 0.4
+1
16-5
16.6
-25.0
2.1
-8.8
17.6
18.211
▼
13.7 ▲
▲
▲
10
21,911.2
23,236.4
170.1
6,477.4
35
▼
13.4
3.9
9 5,371.5
5,332.4
4.0
▲
7,083.1
Macquarie Group 16
4
-0.3
4.25,639.3 4.1
5,315.5
Moelis & Co 87
Goldman Sachs & Co
8
-
17
12
Sumitomo Mitsui Finl Grp Inc
Deutsche Bank
Phatra Securities Co Ltd
9
4
14
1
2
4
5
34,896.3
Deutsche Bank
Mizuho Financial Group
22
Mitsubishi UFJ Morgan Stanley
Nomura
-18
0.7
+6 ▲
-18.4 ▼
-74
30,988.4
8
13
-
7 2
-
5
28,828.7
▲
3
26.4 -5.0
36.8
23.5 6.79
4.7
▼19
-3
▲
JP Morgan▼
4.3
-2
▼
Mitsubishi UFJ Morgan Stanley155
2.5 +10
0.5
125
+18
73
-1113
-5.2
▼
▲ Nomura
0.4
516
27,140.6
6
5.4 - 21.9
106 5.7
-
14 ▲ 6
2.8
20.6
0.1
11.7 ▲
0.3
14.0
16.4
6
▲
▼
37
-37
0.2
0.3
16.5 -6
▼
20.527,011.2
▼
23,979.7
-15
21,640.0-
-12.5 ▼ 7 ▼-8 5
-2 12
13 11.114,610.4
▼1.3
6.2
▼
347.5
61
16.4
0.0 +1
3.3
▼-17.4
0
▲
▲
13,763.6
▲
+11
115
1 ▲ 15 43 10,318.5▲ Plutus Consulting Co Ltd
▼
3.9
9.72.6 0.3 0
23.11.8
▲ 4.8
1▲
0.7
▲
Phatra Securities Co Ltd▲ 4.0
6,327.8
4.05,315.5
35 1.2 +14
2.1 -
-
▲ 13
Sangyo Sosei Advisory Inc 22
29 3,988.4 ▲
-0.9
1.0
▼
▲+1
0.1
3.0
18 18 4,005.2 3.0
2.0
+10.1
-3
30 4,044.1
Acxit Capital Management GmbH 20 -
PricewaterhouseCoopers 19 0
▲3,959.8
3.0 1.0
2.9 12.9
29
3.0
11▲
▲ 0.0 +1
7.3
▲
0.6
1.7 1.0
21
20 ▲AGS Consulting Co Ltd
Yamada Consulting Group Co Ltd
22 67 3,754.6
AGS Consulting Co Ltd
Yamada Consulting Group Co Ltd
21
2.7 13 0.5
Benedi Consulting 23 - 3,519.4 2.6
▲
2.6 ▲ ▲+8
44* 3,929.6 2.9 ▲+102.6 28
3,505.3 ▲2.6 0.2
▲
100.0 2,876134,915.9
2.6
Industry Total +20
Tokai Tokyo Financial Holdings 24* 90 2.6
* tie
-5.1%
-24.6%
▲
71
3,020.4▲ 12
-23.0%
▼
▼▼ 0.7%
12.2%
▲
▼
Industry Total
GCA Savvian Group Corp0.3 -2.12.3+4 25
3,519.4
3,505.3
KPMG
61
3,714.7
Greenhill & Co, LLC
Tokai Tokyo Financial Holdings
2.7
2.6
2.8 +8 ▲
62 2.62.8
4,353.7
Partners Inc -24*
3,505.38 0.3
▲ +55
Any Japanese Involvement Completed (AF23)
16
7.8
Rothschild
9 46
Sumitomo Mitsui Finl Grp Inc
100.0
Benedi Consulting
1.0
Japanese Target Completed M&A Fees
2.6
Partners Inc
131,960.0
Japanese Involvement Announced M&A Target Industry by Value
3,505.3
0.3
+1 4.6
▲
0.7
100.0
▼
1,381.2
0.5▲
8
The Raine Group LLC
0.2
2.7
0.47
-
3.2
4
31
▲
▲
+3
-25
13.1
1.1
0.2 -8.8▲3.1 -1 ▼ 10.414
Jan 1 - Dec 31
UBS
Citi
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5
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Daiwa Securities Group Inc 8
24.3%
20.2%
17.6%
8.9%
6.2%
5.0%
4.9% 4.1%
4.1% 2.4%
2.1% 0.2%
Industrials Real Estate
Financials Materials
High Technology Energy and Power
Consumer Staples Healthcare
Retail Consumer Products and Services
Media and Entertainment Telecommunications
$147.1 $153.0
$296.7 $209.1 $244.2
$115.9
$256.8 $223.3 $193.7 $226.7
$141.7 $173.0
$295.8
$289.5 $207.3
$163.0
$274.4
$151.6 $209.4 $121.7
$181.5
$271.1
$211.7
$253.4
$191.4
$151.4
$160.3
$124.9
$238.1
$166.0
$209.9
$311.0
$232.7 $288.3
$192.7
$276.1
$226.7
$171.2
$243.8
$211.6
0
500
1000
1500
2000
2500
3000
$0
$200
$400
$600
$800
$1,000
$1,200
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Num
ber
of D
eals
Impute
ed F
ees (
US
$m
il)
4Q 3Q 2Q 1Q YTD Number of Deals
19
Industry Total
Industry Total
Industry % Change from Same Period Last Year ▼ ▲
Industry % Change from Last Quarter - ▼
https://www.thomsonone.com
439.8 1.7
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.0 0.0
518.0 2.0
1,408.6 5.51 0 -
11* 10* 1 3.9 0 -
11* 10*
+1 ▲
11* 10* 1 3.9 0 -
11* - 1 3.9
3.9
IMAP
GCA Savvian Group Corp
Sumitomo Mitsui Finl Grp Inc
14* 8 2.1 +3
-3.0% 0.7%
0.0% -67.0%
34* +5 ▲ 145.2 0.1
8
▼
2.1
8.2
▲ 5,284.4 4.7
Industry % Change from Same Period Last Year
0.3
# of Deals per Advisor
-
32,750.3
▼ 14,727.1 3.7
Rothschild 16* 29* 4
1.4
16*
BDO
Deloitte
-4
598,419.0
1.4 +1
- 10 4 1.4 -7
6
0
▲
▼
38.1
-21.7%
86.8 0.03 2.1 +1 ▲
3
Great Wall Securities Co Ltd
25*
Rank Value (US$m)
National Bank of Canada Fin'l
Industry % Change from Last Quarter
0.0
26*
353
# of2012
Rank
# of
28*
23*
100.0
Based on Number of Transactions
Stephens Inc
Rothschild
ICICI Bank Ltd
20*
Haitong Securities Co Ltd
8
1,514.9
1.4
Goldman Sachs & Co
7*
ING
PricewaterhouseCoopers
Ernst & Young LLP
2013
Rank
1
China Merchants Securities Co
Shenyin & Wanguo Securities
Somerley Ltd
Citi
Bank of America Merrill Lynch
76
26*
Fairness Opinion Provider
KPMG
Barclays
UBS
310*
+8 ▲ 1,765.2
10* 7* 2.1 0.7
Citi 11*
* tie
50* 6 1.6 +5
▲
Guangzhou Securities Co Ltd
6 1.6Chinalion Securities Co Ltd
3*Morgan Stanley
22*
3
Haitong Securities Co Ltd
Deals
8* ▲
Change in
Houlihan Lokey
Somerley Ltd
1.7
17*
Jan 1 – Dec 31
Rank Value (US$m)
Huatai Securities Co Ltd
Fairness Opinion Provider US$m Sh (%)
Based on Number of TransactionsBased on Number of Transactions
32
Jan 1 – Dec 31
2013
Rank
# of Deals per Advisor
Deals Sh (%) # of Deals
# of Deals per Advisor
Jan 1 – Dec 31
Based on Number of Transactions
Change in # of Market
# of Deals per Advisor
Fairness Opinion Rankings †
Rank Value (US$m)
Worldwide Announced
Fairness Opinion
Rank Value (US$m)
MarketRank Value
131,794.1 33.0
4,999.9
2.0
17*
17* 6
42*
▼UBS 16* 17* 4
Duff and Phelps
0.5
Industry Total
3* 25
14*
Huatai Securities Co Ltd 32
5
15*
Sinolink Securities Co Ltd
CITIC Group Corp
8
-1 134,120.0
▲
Guotai Junan Securities5.5
Southwest Securities Co Ltd
Sh (%)
7.2
-
57.5
5.5
▼
1,153.50
16,729.3
5.5
10*
Industry % Change from Last Quarter -79.8%
1.3
-4
5
16* 13* 4 11,983.3-21.4
6
-
-2.5% ▼ -79.2%
Jan 1 – Dec 31
▲27.7%
1.4
▲
Credit Suisse
Industry % Change from Same Period Last Year
100.0
804
JP Morgan
2.2
45.7%
▼
Based on Number of Transactions
434,735.3
8.0
Greenhill & Co, LLC
# of Deals per Advisor Rank Value (US$m)
5
1.8
Based on Number of Transactions
2,859.4 0.7
0.4
14*0.8
14*Stephens Inc
BMO Capital Markets
0
16* 17* 4
20* 5
0.4
▼
Raymond James Financial Inc
Barclays 12*
RBC Capital Markets 11
5.8
12*
4.7
4.0
4.7
2
3.2
11
5 5
26
2 ▼8.3
22
▲
7.9
-183
Any US Inv Announced
Fairness Opinion
4
2013
Rank
2012
Rank
Duff and Phelps
Fairness Opinion Provider
▼1 1 28 10.1
9.4
-17
-2
4
-113
6* 11*
9
6*
6*
23
13
13*
+1
+3
▲
▼
+18*
7 +9
17 6.1
13
▼2.2
▲
13 4.7
▼
▲
0.4
5,259.7 1.3
▲
-3
9
6
32*
11*
6
22*
+3
25,400.6
6
8
1.8
▲
+2
+3 ▲
156,114.6 39.1
175,232.1 43.8
+2
6.4
▲
10 8*
▼
-8 22,231.1
2.9
5
▲
5.6
20*
0
▼
▼
1.7
▼
-98
0.0
Fairness Opinion Provider
474.5
Industry Total 399,664.9
# of Deals per Advisor
Fairness Opinion Provider
Rank Value (US$m)
Citi
2.0
1.7
-11
7.3% ▲
1,908.4
▼0.1
2.3
1.7
▲
5,468.4
3,329.6
0.9
1.3
5.3▼
▼
13*
7
7* 7
8
25*15*
▲
+1
-6
23,088.6-7
-1
▼-3
34,818.5
▼
+3
25,400.6
1,874.6
13*
2.6
13*
-3
8 ▼
15*
17
Stifel/KBW +9
5 6
9 4 13 3.7
16
Change in
# of Deals
6.2
Fairness Opinion Provider
▼
22
Market
Deals Sh (%)
Duff and Phelps
2012
Rank Deals
+28 ▲2*
1 51* 33China Securities Co Ltd
# of
Sh (%)
2012
Rank
0.8
Rank Value 2013
Rank
Market
US$m Sh (%)
1 1 29 8.2 -18 ▼
Rank Value
8,676.5
Stout Risius Ross Inc
2.0
2 3 27 7.7 +2 ▲
119.0
47.0
▲
3 2 23 6.5 -18
4 9
204,171.1
▲
▲
▲
4.8 8,288.8
62,333.2
4.3
+1
4.5 +2
JP Morgan
Southwest Securities Co Ltd
7*KPMG
14
Morgan Stanley
Bank of America Merrill Lynch
34.6
82,766.9
Barclays
11*
40.6
+3
+3
7Stout Risius Ross Inc
Stifel/KBW
Raymond James Financial Inc
Barclays
Morgan Stanley
Sandler O'Neill Partners
16*
13
13
18*
10*
Bank of America Merrill Lynch
51*
Goldman Sachs & Co
18
CIBC World Markets Inc
+10 ▲
Canaccord Genuity
Credit Suisse
7,313.9
1.3
1.2
▼
22*
1.6 +2
1.512
Evans & Evans Inc
-16 ▼ 7,005.8 1.2
▲
▼
1.7
-114
16* 4
15 6*
CITIC Group Corp
Guotai Junan Securities
-627*
13
1.9
14
1.6
15
16
JP Morgan
Stifel/KBW
Houlihan Lokey
Evercore Partners
RBC Capital Markets
13*
10* 15
Stout Risius Ross Inc
Sandler O'Neill Partners
3,987.0
Bank of America Merrill Lynch
Goldman Sachs & Co
Morgan Stanley
0.0
2,766.9 0.6
1.9
7,313.9
Evercore Partners
3,110.9
12,904.1
0.5 BMO Capital Markets
8,288.8 1.4
31.7
2.2
5 10
17* 10 2.8 +1
-7
Houlihan Lokey
TD Securities Inc
2.3
2.810*
12 10* 9
10*
17*
6
0.0
14.3
0.5 ▲
160,931.5
0.4
4.0
37.0
176,394.5▼
7 2 3.0
▲ 168,776.1
24 ▲+2
22
10
2.111*
20*
2,350.5
9 6* 20 2.5
8 2.7 -17
+9
17
10* 18
5 3.1 +13 ▲
5*
25
25 3.1 -4
5*
2* 3
2* 1
-19 ▼
32 +22
4.032
# of Market Change in Market
04.1
# of Deals US$m
4,840.7
JP Morgan
Sh (%)
# of DealsSh (%)
5,111.0 0.9
-
63,558.2
Goldman Sachs & Co
4.0
5.5 0
12.4
2*
Market2012
Rank
Change in
Deals
18
29*
7,679.8
17 2.1
3,767.7 0.6
206,951.4
▼
▲4.0
28.2
2.0 +3 ▲
▲+1
-
▲
189,413.4
10.6
US$m
Rank Value
1
2.2
-
13*
0
+1
2013
Rank
7*
2*
2* 6
2*
8
2
810
4
142,724.6 61.2
▲ 570.3 0.2
4.8
6
6
4.118* +3
7*
3* 2.8
▲10*
11*
2.1
4.1
3
9 -6
- 10,698.4 4.6
1,329.4
-5 ▼ 1,738.9
▲
▼
+1
143,423.9 61.5+1
0.6
2,688.0 1.2
18* 2.1
▲ 673.6 0.6
7 1.9
11* - 1.6
0
▼
1.0
Caitong Securities Co Ltd 15* - 6 1.6 +6
11.5
1.3
▼
▼ -9.8% ▼
14*15*
100.0-36145
1,449.7
Industry % Change from Last Quarter -15.4% ▼ -81.3%
Industry % Change from Same Period Last Year
Industry Total 233,095.9
-19.9%
11.5
2.8
Market
3.4
▲ 5,111.0
Sh (%)Sh (%)
3,767.7
# of Deals US$m
China Securities Co Ltd
Market
1,100.6
Rank Value
4.34,840.7▲
+22
15
1 16
33 +288.71
▼
▲
3.2
3,110.9+10
3.4
4.0
-1
+2 7,679.8 6.9
12,904.1
3* 12
136*
4.2
7,005.8
14*
▲
▲
-
12* 9 2.4
50* 9
0.9
3.03,373.9
▲
0
+8
6.3
+3 1,048.9
▲
8*
11 8 2.1
2.4
8* - 9 2.4 +9
▲
+104
Industry % Change from Same Period Last Year 38.0%
GF Securities
14
Industry % Change from Last Quarter 7.2% ▲ -27.5%
378
2013
Rank
1,426.00
111,794.8
-
▲
+1
160.1
Change in Market
▼
Deals
2012
Rank
# of Market
Industry % Change from Last Quarter -33.3% ▼
Sh (%)
2* 5 19.2 +5
1 4* 7 26.9 +5
▲
▲
3,505.3
US$m Sh (%)# of Deals
+5 ▲
▲
3,505.3
2* - 5 19.2 +5
Rank Value
2* - 5 19.2
100.0
Industry % Change from Same Period Last Year -29.7% ▼ -53.0%
-11
63.8%
Bank of America Merrill Lynch
▼
Industry Total
4.6+13
Sandler O'Neill Partners
8*
4
7
11*
▲
▼
-54.2%
1.3
0.1
26 25,442.4 100.0
11*
Partners Inc
Tokai Tokyo Financial Holdings
Plutus Consulting Co Ltd
Any Japan Inv Announced
Fairness Opinion
33,282.9 5.6
-
8.5
6.6
6
2
Jan 1 – Dec 31
-3 ▼
+2 2,079.0
Market
57.5
†Fairness Opinion rankings include fairness opinions provided as a standalone
mandate as well as fairness opinions provided as part of a broader advisory mandate.
Any EMEA Inv Announced
Fairness Opinion
Any Asia Pacific Inv
Announced Fairness Opinion
0.9
-7 ▼ 134,038.9
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
8,676.5 2.2
203,012.5 50.8
-25
Any Americas Inv Announced
Fairness Opinion
9,254.9 1.5
119.0
119.0 0.0
7,313.9 1.8
48,608.7 12.2
0.7
8,288.8 2.1
2,766.9
1,901.8 0.5
2,673.1 0.7
1,514.9
3,536.2 13.9
289.7 0.1
Jan 1 – Dec 31
13.8
9,206.8 36.2
13.8
3,505.3 13.8
▲
Nomura 2*
3,505.3 13.8
3,505.3 13.8
10,532.8 41.4
AGS Consulting Co Ltd
- 5 19.2
▼
Morgan Stanley 8 4* 3 11.5 +1
▲
Benedi Consulting 2* - 5 19.2 +5 ▲
Yamada Consulting Group Co Ltd 2*
Deloitte
Desjardins Capital Markets
Rothschild
Mizuho Financial Group
TD Securities Inc
+5
1 5 19.2 -7
10* 2 7.7 +1 ▲KPMG 0.9
9* 10* 2 7.7 +1 ▲ 557.0 2.2
9*
1 3.9 +1 ▲ 164.8
231.9
0.6
11* 10* 1 3.9 0 - 1,550.0 6.1
-
164.8 0.6
11* 2 1 3.9 -5 ▼ 1,530.0 6.0
11* - 1 3.9 +1 ▲
1.4 -5 3.0
Boenning & Scattergood 16* - 4 1.4 +4 ▲
33,757.8 8.4Moelis & Co 16* 20* 4 1.4 -1 ▼
100.0-79
-22.1% ▼
278
10*
10*
7* 3 2.1 -5
UBS 19* 6* 11 1.4 0 - 135,709.5 22.7
Citi 19* 15* 11 1.4 -9 ▼ 16,972.1 2.8
Evercore Partners 21* 22* 10 1.2 -4 ▼ 26,044.5 4.4
TD Securities Inc 21* 31* 10 1.2 -2 ▼ 3,987.0 0.7
2.4
Duff and Phelps 11* 10* 1 3.9 0 - .0 0.0
589.1 2.3
Simmons & Co International 11* - 1 3.9 +1 ▲ 600.0
▲ 50.0 0.2
JP Morgan 11* 3 1 3.9 -4 ▼
Trustees Advisory 11* - 1 3.9 +1
20
-
-
-
-
-
Full Year 2013 | Mergers & Acquisitions | Financial Advisors
Ranking Criteria Summary
If you would like to participate in the submissionprocess, receive quarterly press releases, or havequestions about league table criteria pleasecontact:
League tables include rank eligible mergers, acquisitions, repurchases, spin-offs, self-tenders, minority stake purchases and debt restructurings.
A tender/merger transaction is considered to be effective at the time of consummation of the merger or the date on which it is declared wholly unconditional.
AmericasRobert LevineTel: +1 646 223 5682
Announced league tables include all deals that were announced between January 1, 2012 and December 31, 2013 and of which Thomson Reuters was made aware. All current dataand previous year's data is as of 5:00pm EST on December 31, 2013.
Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. Non-US dollar denominated transactions are converted to the US dollar equivalent at thetime of announcement of terms.
Tel: +852 3761 1852
E-mail: [email protected]
E-mail: [email protected]
Asia-PacificKelvin Bian
Akemi Mamiya
EMEA
Tel: +44 (0) 20 7542 3566
E-mail: [email protected]
Japan
Serkan Tecimer
Financial and legal advisors receive full credit for each deal on which they provide financial or legal advisory services, unless they represent minority sellers or advise on only a portionof the transaction or Thomson Reuters has not been made aware of their participation in that transaction. For pending transactions, advisors to targets of multiple bids receive credit forthe transaction agreed to or, in the absence of an agreement, the value of the highest offer.
-
-
-
-
Imputed fees are calculated using Freeman & Co. proprietary algorithm where spreads or fees are not disclosed. Deal fees are on a gross basis before all expenses. Each underwriteror advisor is allocated its share of deal fees using Freeman & Co. allocation methodology, based on the number of underwriters or advisors on the deal and their role. No fees areallocated to syndicated members.
E-mail: [email protected]
Akemi MamiyaTel: +813 6441 1158
League tables, commentary, and charts citing announced activity are based on Rank Date and include intended, pending, partially complete, completed, pending regulatory, andunconditional transactions. Rank Date is defined as the earliest public announcement of when a value can be applied to a transaction.
League table volumes for Mitsubishi UFJ Financial Group and Morgan Stanley, included herein reflect the changes after the commencement of their jointly established securities firmsin Japan: (1) Mitsubishi UFJ Morgan Stanley Securities and (2) Morgan Stanley MUFG Securities. Accreditation for transactions involving the newly established joint ventures arereflected in totals for Morgan Stanley. For Japanese related rankings, Morgan Stanley is represented as "Mitsubishi UFJ Morgan Stanley”.
Any Involvement league tables include deals where the target, acquiror, or either ultimate parent are domiciled (nation of headquarters) in the specified region or nation. Anyinvolvement league tables also include the nation of the seller and seller ultimate parent on privately negotiated stake purchases
While Thomson Reuters has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Thomson Reuters nor its third party content providers shall be liable forany errors, inaccuracies or delays in the information, nor for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third party content provider. Thomson Reuters disclaims all warranties, express or implied, as tothe accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to the extent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transactionor trade and does not provide any form of advice (investment, tax, legal) amounting to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying orselling of securities. Thomson Reuters has not undertaken any liability or obligation relating to the purchase or sale of securities for or by any person in connection with this document.
© 2013 Thomson Reuters. All rights reserved.
Thomson Reuters and the Thomson Reuters logo are registered trademarks and trademarks of Thomson Reuters and its affiliated companies. Any third party name or mark herein belongs to the relevant third party.
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