GLOBAL M&A MARKET REVIEW FINANCIAL RANKINGS
1ST 3Q 2014
CONTENTS
1. Introduction
2. Global Market Commentary
8. Global M&A Activity by Region
9. Global M&A Activity by Industry
10. Global Announced Deals
11. Cross Border Announced Deals
12. Global Private Equity Announced Deals
13. North America Announced Deals
17. Latin America Announced Deals
19. EMEA Announced Deals
30. APAC Announced Deals
38. Disclaimer
DisclaimerDATA SUBMISSIONS AND QUERIES
Contact Phone Email
North America Rachel Campanelli +1-212-617-2546 [email protected]
EMEA Paula Cook Dinan +44-20-3525-8104 [email protected]
Asia Pacific Parker Leung +852-2977-6108 [email protected]
General M&A queries may be submitted to: [email protected]
The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equity-swaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of recapitalization according to Bloomberg standards.
Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and our Bloomberg Brief newsletter provides summary highlights of weekly M&A activity and top deal trends.
Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league table results. On the web, visit: http://www.bloomberg.com/professional/solutions/investment-banking/.
Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service.
Q3 2014
GLOBAL M&A FINANCIAL ADVISORY RANKINGS
©2014 Bloomberg Finance L.P. All rights reserved.1
Scale in USD bil.
0 - 1
2 - 3
4 - 9
10 - 31
32 - 9
10 - 31
32 - 61
62 - 184
185 - 553
554 -
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* Quarterly deal value and adviser market share for any regional involvement (target, seller, or acquirer). Scale in USD billions.
Global M&A Regional Review 3Q
Eastern Europe USD 13 billion 1. Goldman Sachs & Co 24.6%2. Citi 19.1% 3. Evercore Partners Inc 18.5%
Asia Pacific USD 200 billion 1. Morgan Stanley 14.8% 2. Citi 14.8% 3. Goldman Sachs & Co 12.5%
Western Europe USD 365 billion 1. Goldman Sachs & Co 45.8%2. Deutsche Bank AG 44.0%3. Morgan Stanley 35.9%
Latin America & CaribbeanUSD 38 billion 1. Morgan Stanley 33.5% 2. Banco Itau BBA SA 33.3%3. Rothschild 32.1%
Middle East & Africa USD 18 billion 1. Citi 27.0% 2. Morgan Stanley 10.9% 3. Deutsche Bank AG 10.3%
North America USD 614 billion 1. Citi 39.1% 2. Goldman Sachs & Co 30.8%3. JP Morgan 29.4%
2
Global M&A Quarterly Volume
*Graphs represent any regional involvement (target, seller, or acquirer). Scale in USD billions.
EMEA M&A Quarterly Volume
Global M&A Regional Review 3Q
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Quarterly Regional Volume: Notable Highlights Global M&A deal volume represented $888.9 billion, the highest third quarter in seven years, up
29% compared to a year ago despite a 9% decline from the second quarter of 2014. The Americas
led this quarter’s increase with $642 billion, accounting for over half the total volume for the
period. Capital flow within North America accounted for nearly 40% of total deals, led by Kinder
Morgan Inc.’s $48.9 billion acquisition of Kinder Morgan Energy Partners LP.
In the third quarter, Europe, Middle East & Africa (EMEA)-based targets attracted 48% more M&A
activity than the previous year, accounting for 27% of global volume, led by AbbVie Inc.’s takeover
of Ireland-based Shire PLC. Companies in Ireland received the most takeover interest in history,
with $55.9 billion worth of deals being announced, an increase of 700% over last year’s $7 billion.
Swiss-based companies also presented a notable increase of 317% from $2.4 billion in 2013’s third
quarter to $10 billion in 2014 ’s third quarter, led by Archer-Daniels-Midland Co’s acquisition of Wild
Flavors GmbH from KKR & Co LP.
Asia-based deal volume increased by 13% from the same period last year, with $199.5 billion in
the third quarter. China’s 71% rise in activity year-over-year was a key driver to the boost for the
region, led by Sinopec’s $17.5 billion sale of 30% in its retail business.
APAC M&A Quarterly Volume
Americas M&A Quarterly Volume
$0
$500
$1,000
$1,500
0
2,000
4,000
6,000
8,000
10,000
2009 Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3
Volume $(bil.) Deal Count
$0
$500
$1,000
0
2,000
4,000
6,000
2009Q3
2010Q3
2011Q3
2012Q3
2013Q3
2014Q3
Volume $(bil.) Deal Count
$0
$200
$400
$600
0
1,000
2,000
3,000
2009Q3
2010Q3
2011Q3
2012Q3
2013Q3
2014Q3
Volume $(bil.) Deal Count
$0
$100
$200
$300
0
2,000
4,000
2009Q3
2010Q3
2011Q3
2012Q3
2013Q3
2014Q3
Volume $(bil.) Deal Count
3
Top Advisers: Consumer, Non-cyclicalQ3 Industry Deal Volume (USD bil.)
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Quarterly Deal Activity by Target Industry
Global M&A Industry Review 3Q Q3 2014 Industry Deal Volume
All total deal value figures in USD
Deal count remained relatively consistent this quarter, with a total of 7,738 deals announced,
compared to last quarter's deal count of 7,638. Around 77% of deal volume this quarter was over $500
million, compared to an average of 70% from the past five third quarters, indicating the presence of larger
sized deals announced this quarter.
The consumer non-cyclical industry proved to be the most targeted industry for the second quarter in a
row. Similar to the second quarter, this quarter's targets were dominated by those in the pharmaceuticals
sector. AbbVie Inc’s offer to buy Shire PLC for $54.9 billion accounted for 30% of deal volume in the
consumer non-cyclical industry this quarter and was also the largest deal of the quarter. The second most
targeted sector in this industry was agriculture, with a specific focus on the tobacco sub-sector. Reynolds
American Inc's pending acquisition for Lorillard Inc accounted for over half of all deals announced in the
agricultural space and represents the largest deal between two tobacco companies on record.
The energy industry was the second most targeted industry, with deals in the pipelines sector
dominating. Kinder Morgan Inc was the most active buyer by volume in the energy space, with three
offers pending for Kinder Morgan Energy Partners LP, Kinder Morgan Management LLC, and El Paso
Pipeline Partners LP. These deals helped to push volume in the energy industry 124% higher than in the
second quarter. Graph represents target industry
Top Advisers: Energy
$
$50
$100
$150
$200
$250
2013
2014
Basic Materials
6%
Communications 9%
Consumer, Non-cyclical
21%
Consumer, Cyclical
15% Diversified
1%
Energy 18%
Financial 17%
Industrial 6%
Technology 5%
Utilities 2%
Communications
9%
Firm Rank Total Deal Value (bil.) Deal Count
Citi 1 93.07 12
JP Morgan 2 92.19 18
Goldman Sachs & Co 3 73.15 9
Morgan Stanley 4 64.64 9
Deutsche Bank AG 5 63.64 9
Firm Rank Total Deal Value (bil.) Deal Count
Citi 1 95.56 10
Barclays 2 80.56 12
Jefferies LLC 3 60.21 5
Goldman Sachs & Co 4 32.52 5
Lazard Ltd 5 28.77 4
4
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Global M&A Industry Review 3Q
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All volume figures in USD bil.
Global M&A Deal Review 3Q
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Quarterly Aggregate Deal Statistics The total number of mega-deals (over $10 billion) tripled to 12 as compared to the same period last
year. Private equity buyouts remained consistent in volume in comparison to the third quarter of 2013.
The use of the hybrid payment type of cash & stock represented 30% of the total payment types this
quarter, up from 8% in the same period last year. The payment option of cash or stock represented less
than 1% of the payment types this quarter as compared to 3% in the third quarter last year.
Announced premiums in the 10-25% range were up by 39% compared to the preceding quarter. This
range was the highest, representing 47% of the total this quarter. However, premiums within the range of
25-50% made up 44% of deals in the preceding quarter as compared to only 37% of deals in this quarter.
The highest announced premiums this quarter on deals above $1 billion were for the acquisition of
InterMune Inc by Roche Holding AG (55%) and Infineon Technologies AG's purchase of International
Rectifier Corp (56%).
0.4, 0% 1.5, 1%13.1, 4%
132.4, 37%
168.1, 47%
39.2, 11%
Q3 Announced Deal Premiums (Volume in USD B,%)
>100% 75.01-100% 50.01-75% 25.01-50% 10.01-25% 0-10%
Public Target Multiples Min - Max Median Book Value .00 - 1926.80x 2.23x Cashflow from Ops. .00 - 4884.36x 15.45x EBIT .00 - 2541.53x 16.25x EBITDA .00 - 3070.31x 10.54x Enterprise Value .00 - 113.02x 1.09x Market Cap .00 - 1878.91x 1.28x Net Income .00 - 2032.65x 23.03x Net Income + Deprec .00 - 2032.65x 16.33x Revenue .00 - 501.91x 1.47x Total Assets .00 - 96.70x 1.02x
Payment Type Summary Volume Percent Cash 502.10 56.48 Cash & Stock 268.62 30.22 Stock 74.07 8.33 Undisclosed 23.62 2.66 Cash or Stock 7.09 0.80 Cash & Debt 5.03 0.57 Stock & Debt 4.25 0.48 Cash, Stock & Debt 2.15 0.24 Debt 0.10 0.01
Deal Type Summary Volume Percent Company Takeover 615.52 69.24 Cross Border 455.48 51.24 Private Equity 189.53 21.32 Asset Sale 143.59 16.15 Additional Stake Purchase 96.41 10.85 Minority Purchase 95.60 10.75 PE Seller 82.37 9.27 Tender Offer 57.09 6.42 Majority Purchase 38.35 4.31 Option Agreement 26.30 2.96 PE Buyout 24.45 2.75 Venture Capital 17.15 1.93 Private Placement 16.63 1.87
Other 69.93 7.89
6
Americas
APAC
EMEA
All value figures in USD.
Top Third Quarter Deals by Target Region
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Global M&A Deal Review 3Q
Target Name Acquirer Name Seller Name Total Value (mil.)
Kinder Morgan Energy Partners LP Kinder Morgan Inc/DE 48,881.9Lorillard Inc Reynolds American Inc 26,477.1Sigma-Aldrich Corp Merck KGaA 16,394.6TRW Automotive Holdings Corp ZF Friedrichshafen AG 12,857.3Tim Hortons Inc Burger King Worldwide Inc 12,112.3Kinder Morgan Management LLC Kinder Morgan Inc/DE 10,680.7Global Village Telecom Holding SA Telefonica Brasil SA Vivendi SA 10,284.8El Paso Pipeline Partners LP Kinder Morgan Inc/DE 10,275.6Family Dollar Stores Inc Dollar General Corp 9,721.5Family Dollar Stores Inc Dollar Tree Inc 9,093.5
Target Name Acquirer Name Seller Name Total Value (mil.)
Sinopec Marketing Co Ltd Multiple acquirers 17,459.9KEPCO headquarters/Gangnam Multiple acquirers Korea Electric Power Corp 10,093.8Hong Yuan Securities Co Ltd China Investment Corp 6,388.4S-Oil Corp Saudi Arabian Oil Co Korean Air Lines Co Ltd 4,602.9Sinopec Oilfield Service Corp Sinopec Yizheng Chemical Fibre Co Ltd China Petrochemical Corp 4,180.8Sound Global Ltd Sound Environmental Resources Co Ltd 2,928.6Samsung Engineering Co Ltd Samsung Heavy Industries Co Ltd 2,783.4China Network Systems Co Ltd Private Investor MBK Partners Ltd 2,400.0China Huarong Asset Management Co Ltd Multiple acquirers 2,367.3Malaysian oil & gas assets Pertamina Persero PT Murphy Oil Corp 2,000.0
Target Name Acquirer Name Seller Name Total Value (mil.)
Shire PLC AbbVie Inc 54,858.9Alliance Boots GmbH Walgreen Co Multiple sellers 24,397.8Corio NV Klepierre 9,874.7Multiple Targets British Sky Broadcasting Group PLC Twenty-First Century Fox Inc 9,701.5Developed mkts branded generics pharma Mylan Inc/PA Abbott Laboratories 5,355.0Catalunya mortgage portfolio Blackstone Group LP/The Caixa d'Estalvis de Catalunya Tarragona i Manresa 4,890.4Jazztel PLC Orange SA 4,752.8BSH Bosch und Siemens Hausgeraete GmbH Robert Bosch GmbH Siemens AG 3,849.6Rottapharm SpA Meda AB 3,482.5Sky Deutschland AG British Sky Broadcasting Group PLC 3,387.3
7
Bloomberg
Global M&A Activity
Regional Breakdown by Target Region/Country
1/1/14 - 9/30/14 2014 2013
REGION VOLUME
USD (Mln)
DEAL
COUNT
VOLUME
USD (Mln)
DEAL
COUNT
VOLUME
CHANGE
Americas $1,388,574 10,862 $876,537 9,677 58.42%
Latin America $92,504 635 $61,071 704 51.47%
North America $1,312,181 10,332 $825,779 9,082 58.90%
Canada $84,651 1,196 $68,249 1,138 24.03%
United States $1,202,990 8,948 $743,675 7,765 61.76%
EMEA $650,820 5,770 $526,264 5,768 23.67%
Eastern Europe $32,764 736 $59,021 914 -44.49%
Western Europe $594,986 4,506 $424,243 4,376 40.25%
UK $134,227 1,618 $102,747 1,468 30.64%
Germany $69,484 633 $69,726 635 -0.35%
France $121,135 426 $49,176 488 146.33%
Asia-Pacific ex-Japan $437,149 4,922 $322,711 4,653 35.46%
Australia $57,314 765 $42,217 656 35.76%
New Zealand $4,753 92 $3,054 88 55.61%
China $182,822 1,649 $127,857 1,569 42.99%
Hong Kong $32,693 355 $15,264 309 114.18%
South East Asia $53,029 811 $58,038 815 -8.63%
India $25,708 487 $16,341 497 57.32%
Japan $33,049 1,189 $50,789 1,187 -34.93%
Global $2,515,375 22,971 $1,778,977 21,434 41.39%
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
8
01/01/14 - 09/30/14 2014
FIRM RANK MKT VOLUME SHARE USD (Mln)
DEAL COUNT
Goldman Sachs & Co 1 14.1 60,955 57
Morgan Stanley 2 13.6 58,925 44 JPMorgan Chase & Co 3 12.5 53,936 42 Bank of America Merrill Lynch 4 9.1 39,318 31 Deutsche Bank AG 5 8.3 35,781 31 Citigroup Inc 6 7.0 30,341 34 UBS AG 7 6.0 25,752 22 Barclays PLC 8 5.7 24,793 33 Lazard Ltd 9 5.0 21,761 27 Somerley International Ltd 10 5.0 21,737 8
TOTAL $432,950 4,036
01/01/14 - 09/30/14 2014
FIRM RANK MKT VOLUME SHARE USD (Mln)
DEAL COUNT
Citigroup Inc 1 40.8 118,836 29
Barclays PLC 2 34.8 101,146 27 Jefferies LLC 3 22.4 65,255 8 Goldman Sachs & Co 4 20.5 59,605 22 Morgan Stanley 5 14.5 42,304 13 Deutsche Bank AG 6 12.1 35,110 12 Lazard Ltd 7 11.1 32,312 10 Tudor Pickering Holt & Co 8 10.8 31,537 22 Bank of America Merrill Lynch 9 9.7 28,205 11 JPMorgan Chase & Co 10 9.0 26,042 18
TOTAL $291,020 1,278
M&A League Tables by Industry Global Announced Deals - Consumer, Non-cyclical Global Announced Deals - Financial
01/01/14 - 09/30/14 2014
FIRM RANK MKT VOLUME SHARE USD (Mln)
DEAL COUNT
Goldman Sachs & Co 1 48.5 279,558 49
Morgan Stanley 2 36.2 208,552 45 Bank of America Merrill Lynch 3 33.9 195,495 40 JPMorgan Chase & Co 4 29.2 168,159 50 Citigroup Inc 5 25.3 145,744 38 Barclays PLC 6 20.0 115,170 33 Centerview Partners LLC 7 15.7 90,648 19 Lazard Ltd 8 15.4 88,812 43 Deutsche Bank AG 9 13.8 79,205 26 Credit Suisse Group AG 10 13.5 77,830 31
TOTAL $576,226 4,706
Global Announced Deals - Communications Global Announced Deals - Energy
01/01/14 - 09/30/14 2014
FIRM RANK MKT VOLUME SHARE USD (Mln)
DEAL COUNT
Morgan Stanley 1 47.5 185,319 34 Goldman Sachs & Co 2 37.2 145,381 37 Bank of America Merrill Lynch 3 37.1 144,921 23 JPMorgan Chase & Co 4 31.1 121,569 30 Citigroup Inc 5 28.8 112,591 17 Lazard Ltd 6 28.1 109,503 11 Barclays PLC 7 27.8 108,468 15 Allen & Co Inc 8 22.2 86,580 4 PJT Capital LLC 9 19.4 75,705 2 Centerview Partners LLC 10 18.0 70,245 4
TOTAL $390,375 2,781
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Bloomberg
M&A Financial Advisory League Tables
Global Announced Deals
Ranked by Volume
1/1/14 - 9/30/14
FIRM RANK MKT
2014
VOLUME DEAL
2013
RANK MKT MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Morgan Stanley
Citigroup Inc
Bank of America Merrill Lynch
JPMorgan Chase & Co
Barclays PLC
Lazard Ltd
Deutsche Bank AG
Credit Suisse Group AG
Centerview Partners LLC
Rothschild Ltd
UBS AG
RBC Capital Markets
Evercore Partners Inc
BNP Paribas SA
Jefferies LLC
Perella Weinberg Partners LP
Allen & Co Inc
PJT Capital LLC
Societe Generale SA
1 30.1
2 27.5
3 22.5
4 20.5
5 18.7
6 17.9
7 16.9
8 14.7
9 10.9
10 8.8
11 6.5
12 5.8
13 4.8
14 4.5
15 4.3
16 3.8
17 3.6
18 3.5
19 3.0
20 3.0
755,753
692,413
566,094
515,556
470,878
449,359
425,256
369,627
274,344
220,361
163,699
145,059
121,435
113,646
108,129
97,688
91,010
87,776
75,705
74,234
274 1
241 3
198 11
174 4
203 2
174 5
162 9
156 8
150 7
36 14
179 17
98 6
111 16
95 18
81 15
93 25
22 28
9 39
2 12
35 24
26.5
22.6
7.6
21.6
24.3
17.7
9.1
9.3
9.3
4.9
3.6
12.6
3.7
3.3
4.6
1.5
1.3
0.8
7.3
1.5
3.6
4.9
14.9
(1.1)
(5.6)
0.2
7.8
5.4
1.6
3.9
2.9
(6.8)
1.1
1.2
(0.3)
2.3
2.3
2.7
(4.3)
1.5
TOTAL $2,515,375 22,971 $1,778,977
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
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Bloomberg
M&A Financial Advisory League Tables
Cross Border Announced Deals
Ranked by Volume
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Morgan Stanley
Deutsche Bank AG
Citigroup Inc
Lazard Ltd
JPMorgan Chase & Co
Bank of America Merrill Lynch
Credit Suisse Group AG
Rothschild Ltd
Barclays PLC
Centerview Partners LLC
UBS AG
Evercore Partners Inc
BNP Paribas SA
HSBC Bank PLC
Societe Generale SA
RBC Capital Markets
Credit Agricole Corporate & Investment Bank SA
Macquarie Group Ltd
Banco Santander SA
1 36.0
2 34.8
3 26.0
4 24.7
5 23.6
6 20.7
7 16.7
8 13.3
9 12.3
10 9.3
11 8.5
12 7.5
13 7.3
14 7.0
15 6.5
16 4.8
17 3.6
18 2.8
19 2.7
20 2.4
394,684
381,345
284,956
270,453
258,364
226,995
182,829
145,274
135,264
102,175
93,630
81,816
79,900
76,304
71,414
52,393
39,004
30,680
29,688
26,110
157 1
138 2
91 10
99 9
102 12
112 3
87 4
79 11
128 14
75 5
19 25
56 6
38 49
57 15
32 13
21 17
41 38
14 76
46 35
20 53
39.2
34.4
9.4
9.8
5.5
32.1
28.0
9.0
5.1
26.7
1.5
24.1
0.7
4.0
5.1
3.2
1.2
0.2
1.2
0.6
(3.2)
0.4
16.6
14.9
18.1
(11.4)
(11.3)
4.3
7.2
(17.4)
7.0
(16.6)
6.6
3.0
1.4
1.6
2.4
2.6
1.5
1.8
TOTAL $1,096,311 7,904 $791,819
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
11
Bloomberg
M&A Financial Advisory League Tables
Global Private Equity Announced Deals
Ranked by Volume 1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co 1 30.8 156,642 101 3 23.9 6.9
Morgan Stanley 2 24.2 122,993 83 8 13.3 10.9
Deutsche Bank AG 3 20.8 105,842 62 5 17.1 3.7
Citigroup Inc 4 16.4 83,598 48 13 9.4 7.0
Lazard Ltd 5 16.3 82,626 52 9 12.4 3.9
Bank of America Merrill Lynch 6 15.5 79,035 49 2 24.2 (8.7)
JPMorgan Chase & Co 7 15.0 76,211 63 1 26.7 (11.7)
Barclays PLC 8 12.5 63,615 55 7 14.6 (2.1)
Credit Suisse Group AG 9 11.5 58,223 54 4 21.7 (10.2)
UBS AG 10 9.9 50,525 28 18 5.4 4.5
RBC Capital Markets 11 6.3 31,762 33 11 11.8 (5.5)
Centerview Partners LLC 12 6.3 31,759 7 6 15.6 (9.3)
Rothschild Ltd 13 4.1 20,678 60 22 3.4 0.7
CITIC Securities Co Ltd 14 3.9 19,910 2 104 0.1 3.8
Allen & Co Inc 15 3.8 19,371 7 38 0.8 3.0
Wells Fargo & Co 16 3.8 19,123 25 12 10.4 (6.6)
Jefferies LLC 17 3.7 18,968 64 19 4.0 (0.3)
PricewaterhouseCoopers LLP 18 3.1 15,529 64 27 2.0 1.1
Evercore Partners Inc 19 2.8 14,340 31 14 7.1 (4.3)
Banco Santander SA 20 2.7 13,833 7 64 0.2 2.5
TOTAL $508,536 5,585 $295,909 *Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
12
Bloomberg
M&A Financial Advisory League Tables
United States Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Morgan Stanley
Citigroup Inc
Bank of America Merrill Lynch
JPMorgan Chase & Co
Barclays PLC
Lazard Ltd
Deutsche Bank AG
Centerview Partners LLC
Credit Suisse Group AG
Evercore Partners Inc
RBC Capital Markets
Jefferies LLC
Allen & Co Inc
UBS AG
PJT Capital LLC
Perella Weinberg Partners LP
Greenhill & Co Inc
Wells Fargo & Co
Rothschild Ltd
1 35.7
2 31.9
3 26.4
4 25.6
5 25.4
6 25.2
7 17.6
8 15.6
9 14.2
10 10.3
11 6.8
12 6.6
13 6.1
14 5.7
15 5.1
16 4.9
17 3.9
18 2.9
19 2.9
20 2.3
550,277
491,540
406,475
394,657
391,475
388,415
271,710
241,083
218,749
159,161
104,585
102,123
93,897
87,776
79,230
75,705
60,719
44,768
44,543
34,699
186 2
149 4
122 13
117 3
137 1
129 5
91 11
96 10
34 12
98 9
79 15
76 16
78 20
9 51
54 6
2 8
18 42
27 23
60 17
40 24
35.6
28.0
7.8
32.4
35.7
25.9
9.4
10.1
9.1
13.2
5.7
4.8
2.1
0.5
17.4
13.8
0.6
1.7
4.8
1.3
0.1
3.9
18.6
(6.8)
(10.3)
(0.7)
8.2
5.5
5.1
(2.9)
1.1
1.8
4.0
5.2
(12.3)
(8.9)
3.3
1.2
(1.9)
1.0
TOTAL $1,542,821 11,115 $941,038
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
13
Bloomberg
M&A Financial Advisory League Tables
United States Announced Deals
Target or Seller
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Morgan Stanley
Barclays PLC
Bank of America Merrill Lynch
Citigroup Inc
JPMorgan Chase & Co
Lazard Ltd
Centerview Partners LLC
Deutsche Bank AG
Credit Suisse Group AG
Jefferies LLC
Allen & Co Inc
RBC Capital Markets
PJT Capital LLC
UBS AG
Perella Weinberg Partners LP
Evercore Partners Inc
Greenhill & Co Inc
Tudor Pickering Holt & Co
Wells Fargo & Co
1 35.3
2 30.2
3 28.2
4 27.6
5 24.2
6 23.4
7 17.8
8 15.1
9 11.5
10 10.1
11 6.7
12 6.6
13 6.3
14 5.7
15 5.5
16 4.6
17 3.6
18 3.3
19 2.6
20 2.4
470,316
401,813
375,790
367,715
322,816
311,615
237,568
200,474
153,236
134,076
89,189
87,776
83,609
75,705
72,742
60,719
48,272
43,390
33,907
32,279
144 3
128 4
116 5
102 2
104 14
121 1
68 11
30 12
79 10
82 9
69 19
9 43
65 17
2 8
43 6
18 49
70 15
22 22
25 31
55 16
35.9
30.0
28.7
36.5
7.8
37.7
10.6
10.6
11.1
11.2
2.2
0.5
5.5
16.0
19.8
0.5
6.6
1.8
0.9
5.5
(0.6)
0.2
(0.5)
(8.9)
16.4
(14.3)
7.2
4.5
0.4
(1.1)
4.5
6.1
0.8
(10.3)
(14.3)
4.1
(3.0)
1.5
1.7
(3.1)
TOTAL $1,331,562 9,306 $810,694
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
14
Bloomberg
M&A Financial Advisory League Tables
Canada Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
RBC Capital Markets
Barclays PLC
JPMorgan Chase & Co
Goldman Sachs & Co
Morgan Stanley
Citigroup Inc
Bank of Nova Scotia/The
BMO Capital Markets Corp/Toronto
Bank of America Merrill Lynch
Deutsche Bank AG
Lazard Ltd
TD Securities Inc
Wells Fargo & Co
Evercore Partners Inc
CIBC
Canaccord Genuity Corp
National Bank of Canada Financial Inc
Macquarie Group Ltd
Credit Suisse Group AG
Tudor Pickering Holt & Co
1 25.5
2 22.1
3 19.7
4 19.6
5 16.3
6 15.0
7 14.5
8 13.4
9 10.0
10 9.1
11 8.7
12 8.1
13 8.1
14 8.0
15 7.7
16 6.0
17 5.6
18 5.5
19 5.4
20 4.4
39,365 47 1
34,094 16 13
30,312 18 22
30,196 26 4
25,181 16 3
23,163 12 17
22,291 24 6
20,705 27 9
15,459 11 2
13,955 6 7
13,343 6 83
12,492 31 8
12,439 3 28
12,253 13 12
11,930 27 5
9,205 7 11
8,610 22 26
8,521 16 20
8,352 8 10
6,843 1 -
25.6
3.3
1.5
13.9
16.6
2.3
9.9
7.7
20.0
9.4
0.0
8.8
0.6
3.5
10.6
6.1
0.8
1.6
7.7
-
(0.1)
18.8
18.2
5.7
(0.3)
12.7
4.6
5.7
(10.0)
(0.3)
8.7
(0.7)
7.5
4.5
(2.9)
(0.1)
4.8
3.9
(2.3)
4.4
TOTAL $154,208 1,843 $116,524
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
15
Bloomberg
M&A Financial Advisory League Tables
Canada Announced Deals
Target or Seller
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
RBC Capital Markets
JPMorgan Chase & Co
Citigroup Inc
Morgan Stanley
BMO Capital Markets Corp/Toronto
Goldman Sachs & Co
Bank of Nova Scotia/The
Barclays PLC
Lazard Ltd
Wells Fargo & Co
Bank of America Merrill Lynch
TD Securities Inc
National Bank of Canada Financial Inc
CIBC
Deutsche Bank AG
XMS Capital Partners LLC
Evercore Partners Inc
Canaccord Genuity Corp
Centerview Partners LLC
Macquarie Group Ltd
1 32.7
2 20.6
3 19.4
4 18.8
5 16.9
6 14.2
7 14.2
8 13.2
9 12.8
10 11.8
11 10.3
12 10.0
13 8.4
14 7.4
15 5.3
16 5.3
17 5.2
18 4.0
19 1.9
20 1.9
33,484 40 1
21,050 10 23
19,823 7 15
19,229 9 4
17,333 23 9
14,515 14 7
14,502 18 5
13,503 8 13
13,081 3 66
12,112 2 40
10,548 6 2
10,229 25 6
8,600 21 19
7,562 24 3
5,460 2 46
5,400 2 -
5,273 10 10
4,128 4 8
1,912 2 37
1,894 10 20
26.4
0.5
1.9
14.3
9.0
10.6
13.1
2.0
0.0
0.2
19.8
12.2
1.1
15.5
0.2
-
5.3
9.1
0.3
0.9
6.3
20.1
17.5
4.5
7.9
3.6
1.1
11.2
12.8
11.6
(9.5)
(2.2)
7.3
(8.1)
5.1
5.3
(0.1)
(5.1)
1.6
1.0
TOTAL $102,368 1,323 $78,349
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
16
Bloomberg
M&A Financial Advisory League Tables
Latin America Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Banco Itau BBA SA
Goldman Sachs & Co
Morgan Stanley
Credit Suisse Group AG
Rothschild Ltd
Deutsche Bank AG
Bank of America Merrill Lynch
Banco Santander SA
Citigroup Inc
JPMorgan Chase & Co
Lazard Ltd
Banco BTG Pactual SA
UBS AG
Banco Bradesco BBI SA
BMO Capital Markets Corp/Toronto
CITIC Securities Co Ltd
Barclays PLC
Estater Gestao e Financas SA
A10 Investimentos
Jefferies Group LLC
1 25.8
2 25.3
3 24.9
4 24.3
5 23.1
6 21.6
7 19.9
8 18.6
9 17.2
10 11.4
11 10.0
12 9.7
13 6.8
14 6.6
15 6.4
15 6.4
17 5.3
18 4.3
19 4.2
20 3.2
28,408 55 4
27,890 13 1
27,436 16 6
26,740 18 2
25,463 18 16
23,816 9 18
21,988 13 7
20,503 25 8
18,916 11 12
12,602 8 15
11,024 6 11
10,658 17 3
7,485 3 13
7,269 11 5
7,005 2 35
7,005 1 -
5,822 9 19
4,741 1 32
4,672 2 -
3,497 2 -
18.5
26.7
13.3
22.6
2.9
2.4
8.8
8.3
4.1
2.9
4.2
21.7
3.8
17.2
0.4
-
2.2
0.4
-
-
7.3
(1.4)
11.6
1.7
20.2
19.2
11.1
10.3
13.1
8.5
5.8
(12.0)
3.0
(10.6)
6.0
6.4
3.1
3.9
4.2
3.2
TOTAL $110,260 722 $70,322
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
17
Bloomberg
M&A Financial Advisory League Tables
Brazil Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Banco Itau BBA SA
Rothschild Ltd
Goldman Sachs & Co
Credit Suisse Group AG
Banco Santander SA
Morgan Stanley
Bank of America Merrill Lynch
Deutsche Bank AG
JPMorgan Chase & Co
Lazard Ltd
Banco BTG Pactual SA
Banco Bradesco BBI SA
UBS AG
Estater Gestao e Financas SA
A10 Investimentos
Citigroup Inc
Ernst & Young
Barclays PLC
Banco Indusval SA
Brasil Plural CCTVM SA
1 45.9
2 44.4
3 34.4
4 31.8
5 29.0
6 25.2
7 22.8
8 20.7
9 20.5
10 19.8
11 17.7
12 13.1
13 11.6
14 8.5
15 8.4
16 5.5
17 3.0
18 3.0
19 2.1
20 1.1
25,529 48 2
24,689 14 10
19,141 6 5
17,690 11 4
16,141 22 7
13,979 8 6
12,656 8 12
11,522 3 18
11,395 5 13
11,024 6 21
9,819 14 1
7,269 11 3
6,436 1 20
4,741 1 23
4,672 2 -
3,030 4 8
1,681 1 -
1,662 3 16
1,182 4 38
625 3 29
34.1
4.8
18.1
30.8
9.4
13.1
4.0
1.1
3.6
1.0
37.9
31.9
1.1
0.8
-
4.9
-
1.9
0.1
0.3
11.8
39.6
16.3
1.0
19.6
12.1
18.8
19.6
16.9
18.8
(20.2)
(18.8)
10.5
7.7
8.4
0.6
3.0
1.1
2.0
0.8
TOTAL $55,578 399 $37,921
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
18
Bloomberg
M&A Financial Advisory League Tables
Europe Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM RANK MKT
2014
VOLUME DEAL
2013
RANK MKT MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Morgan Stanley
Deutsche Bank AG
Citigroup Inc
Lazard Ltd
JPMorgan Chase & Co
Bank of America Merrill Lynch
Rothschild Ltd
Credit Suisse Group AG
Barclays PLC
BNP Paribas SA
UBS AG
Societe Generale SA
Centerview Partners LLC
Evercore Partners Inc
HSBC Bank PLC
Credit Agricole Corporate & Investment Bank SA
Perella Weinberg Partners LP
Banco Santander SA
Nordea Bank AB
1 36.8
2 35.3
3 31.3
4 26.2
5 26.1
6 21.6
7 18.1
8 15.3
9 14.7
10 11.8
11 11.5
12 10.4
13 8.3
14 8.2
15 7.6
16 7.0
17 6.0
18 3.9
19 2.5
20 1.9
330,201
316,850
281,554
235,633
234,438
193,791
162,525
137,293
131,728
105,686
102,830
93,207
74,234
73,405
68,522
62,944
53,565
35,291
22,371
17,137
104 1
98 2
73 9
72 12
102 11
75 3
71 5
150 14
50 13
67 4
64 10
48 6
35 18
13 27
29 67
29 16
24 44
6 21
17 51
10 39
41.3
34.8
11.1
9.7
10.4
33.1
25.5
7.2
8.3
28.6
10.7
24.3
3.5
1.6
0.3
4.6
0.7
2.5
0.6
0.8
(4.5)
0.5
20.2
16.5
15.7
(11.5)
(7.4)
8.1
6.4
(16.8)
0.8
(13.9)
4.8
6.6
7.3
2.4
5.3
1.4
1.9
1.1
TOTAL $898,401 7,002 $759,894
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
19
Bloomberg
M&A Financial Advisory League Tables
Europe Announced Deals
Target or Seller
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Morgan Stanley
Deutsche Bank AG
Citigroup Inc
Lazard Ltd
JPMorgan Chase & Co
Rothschild Ltd
Bank of America Merrill Lynch
Credit Suisse Group AG
BNP Paribas SA
Barclays PLC
Societe Generale SA
UBS AG
Evercore Partners Inc
HSBC Bank PLC
Credit Agricole Corporate & Investment Bank SA
Centerview Partners LLC
Perella Weinberg Partners LP
Nordea Bank AB
Banco Santander SA
1 37.3
2 35.8
3 32.7
4 26.2
5 26.1
6 19.7
7 17.9
8 17.4
9 16.0
10 14.4
11 11.6
12 10.4
13 9.4
14 8.9
15 8.4
16 7.5
17 7.1
18 4.2
19 2.4
20 2.2
266,971
256,352
234,193
187,595
186,562
141,146
127,975
124,123
114,485
102,830
83,297
74,234
67,211
63,667
59,727
53,565
50,653
30,291
17,137
15,594
81 1
76 2
61 9
56 12
87 11
59 3
134 14
58 5
38 13
61 10
51 4
35 18
41 6
24 68
26 17
23 42
8 26
4 21
10 38
12 54
44.5
36.8
11.7
8.5
10.3
35.5
7.7
27.6
8.4
11.6
29.6
3.7
25.3
0.3
4.0
0.7
1.7
2.4
0.9
0.6
(7.2)
(1.0)
21.0
17.7
15.8
(15.8)
10.2
(10.2)
7.6
2.8
(18.0)
6.7
(15.9)
8.6
4.4
6.8
5.4
1.8
1.5
1.6
TOTAL $715,308 5,602 $688,136
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
20
Bloomberg
M&A Financial Advisory League Tables
United Kingdom Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Lazard Ltd
Deutsche Bank AG
Morgan Stanley
Bank of America Merrill Lynch
Barclays PLC
JPMorgan Chase & Co
Centerview Partners LLC
UBS AG
Citigroup Inc
Rothschild Ltd
Credit Suisse Group AG
BNP Paribas SA
Simon Robertson Associates LLP
Societe Generale SA
Perella Weinberg Partners LP
ABN AMRO Bank NV
Credit Agricole Corporate & Investment Bank SA
Banco Bilbao Vizcaya Argentaria SA
Banco Santander SA
1 33.1
2 27.2
3 22.9
4 21.2
5 19.9
6 17.2
7 16.7
8 15.0
9 12.6
10 11.9
11 8.8
12 5.6
13 4.6
14 4.6
15 4.5
16 4.2
17 4.0
18 3.9
19 3.7
20 3.6
91,855
75,573
63,594
59,005
55,293
47,875
46,456
41,696
35,018
32,931
24,459
15,619
12,756
12,726
12,368
11,526
11,081
10,960
10,324
10,026
45 1
32 13
22 10
29 3
37 4
34 6
35 2
8 -
20 5
18 19
66 14
15 9
16 17
3 -
7 16
4 12
1 118
4 118
2 92
1 48
59.3
2.9
9.6
51.6
48.3
45.7
57.1
-
47.9
2.0
2.5
10.7
2.2
-
2.2
3.8
0.0
0.0
0.0
0.3
(26.2)
24.3
13.3
(30.4)
(28.4)
(28.5)
(40.4)
15.0
(35.3)
9.9
6.3
(5.1)
2.4
4.6
2.3
0.4
4.0
3.9
3.7
3.3
TOTAL $277,913 2,642 $319,825
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
21
Bloomberg
M&A Financial Advisory League Tables
Germany Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Morgan Stanley
Deutsche Bank AG
Goldman Sachs & Co
JPMorgan Chase & Co
Lazard Ltd
Bank of America Merrill Lynch
Citigroup Inc
Barclays PLC
Rothschild Ltd
UBS AG
Guggenheim Capital LLC
Skandinaviska Enskilda Banken AB
Nordea Bank AB
Zaoui & Co LLP
BNP Paribas SA
Ernst & Young
Greenhill & Co Inc
Credit Suisse Group AG
Stamford Partners
UniCredit SpA
1 42.3
2 41.8
3 29.7
4 27.9
5 21.8
6 21.5
7 19.0
8 14.0
9 12.7
10 10.1
11 9.4
12 5.4
13 5.3
14 4.3
15 3.2
16 3.0
17 2.7
18 2.3
19 1.0
20 1.0
73,618 17 4
72,852 25 2
51,695 19 1
48,598 15 5
37,971 17 14
37,495 10 8
33,045 15 6
24,414 12 19
22,186 22 7
17,546 9 3
16,395 1 -
9,464 2 48
9,152 1 54
7,469 1 -
5,569 4 23
5,134 10 45
4,686 3 -
4,045 6 13
1,807 1 -
1,746 8 21
31.0
40.4
42.5
27.6
5.2
19.8
25.0
4.0
21.5
33.7
-
0.0
0.0
-
1.2
0.1
-
6.6
-
1.7
11.3
1.4
(12.8)
0.3
16.6
1.7
(6.0)
10.0
(8.8)
(23.6)
9.4
5.4
5.3
4.3
2.0
2.9
2.7
(4.3)
1.0
(0.7)
TOTAL $174,133 1,079 $95,545
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
22
Bloomberg
M&A Financial Advisory League Tables
France Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Lazard Ltd
Morgan Stanley
Credit Suisse Group AG
Rothschild Ltd
Goldman Sachs & Co
BNP Paribas SA
Societe Generale SA
Deutsche Bank AG
Citigroup Inc
HSBC Bank PLC
Bank of America Merrill Lynch
Credit Agricole Corporate & Investment Bank SA
Barclays PLC
UBS AG
JPMorgan Chase & Co
Perella Weinberg Partners LP
Centerview Partners LLC
Banco Itau BBA SA
Banco Santander SA
Leonardo & Co SpA
1 60.6
2 52.0
3 47.9
4 46.1
5 45.3
6 43.5
7 34.1
8 32.0
9 31.2
10 29.6
11 25.0
12 22.1
13 15.2
14 14.3
15 13.0
16 10.2
17 9.2
18 5.9
19 1.5
20 1.3
114,078 36 2
97,948 18 1
90,145 8 14
86,699 45 12
85,236 17 3
81,783 37 7
64,208 31 11
60,142 13 5
58,669 7 10
55,721 7 15
47,094 11 8
41,618 20 13
28,624 14 4
26,979 6 19
24,506 12 6
19,210 2 21
17,239 2 9
11,062 3 -
2,721 5 24
2,464 7 30
30.8
41.3
4.6
7.5
20.5
16.1
7.7
18.6
7.8
4.3
9.8
4.7
19.3
1.3
18.6
1.2
8.7
-
0.8
0.7
29.8
10.7
43.3
38.6
24.8
27.4
26.4
13.4
23.4
25.3
15.2
17.4
(4.1)
13.0
(5.6)
9.0
0.5
5.9
0.7
0.6
TOTAL $188,210 914 $99,000
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
23
Bloomberg
M&A Financial Advisory League Tables
Italy Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Morgan Stanley
Lazard Ltd
Goldman Sachs & Co
Barclays PLC
Bank of America Merrill Lynch
Deutsche Bank AG
Rothschild Ltd
JPMorgan Chase & Co
Citigroup Inc
Credit Suisse Group AG
Stifel Financial Corp
Evercore Partners Inc
Leonardo & Co SpA
Macquarie Group Ltd
Bank of America Corp
UniCredit SpA
UBS AG
KPMG Corporate Finance LLC
BNP Paribas SA
Ernst & Young
1 37.6
2 35.0
3 30.1
4 30.0
5 29.4
6 28.6
7 16.0
8 14.7
9 14.3
10 11.8
10 11.8
12 8.2
13 5.9
14 5.3
15 5.1
16 3.5
17 3.5
18 3.5
19 3.4
20 3.2
20,049 7 10
18,649 18 7
16,067 6 1
15,982 2 8
15,661 5 19
15,216 4 4
8,513 20 6
7,814 4 13
7,638 3 18
6,280 3 11
6,280 1 -
4,350 1 -
3,135 7 9
2,812 1 25
2,701 1 -
1,889 4 2
1,863 2 21
1,862 16 33
1,822 12 5
1,719 3 28
13.6
19.4
45.9
18.7
4.3
22.8
21.3
13.0
4.3
13.2
-
-
17.8
0.7
-
28.1
2.2
0.2
21.8
0.3
24.0
15.6
(15.8)
11.3
25.1
5.8
(5.3)
1.7
10.0
(1.4)
11.8
8.2
(11.9)
4.6
5.1
(24.6)
1.3
3.3
(18.4)
2.9
TOTAL $53,304 328 $42,383
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
24
Bloomberg
M&A Financial Advisory League Tables
Benelux Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Morgan Stanley
Bank of America Merrill Lynch
Goldman Sachs & Co
Deutsche Bank AG
Citigroup Inc
Lazard Ltd
Perella Weinberg Partners LP
BNP Paribas SA
UBS AG
Barclays PLC
JPMorgan Chase & Co
Credit Suisse Group AG
Societe Generale SA
Credit Agricole Corporate & Investment Bank SA
ABN AMRO Bank NV
XMS Capital Partners LLC
BDT Capital Partners LLC
Centerview Partners LLC
Rothschild Ltd
Jefferies LLC
1 55.6
2 41.0
3 40.9
4 38.2
5 37.7
6 37.2
7 31.8
8 27.2
9 25.5
10 22.7
11 21.3
12 18.5
13 17.6
14 17.3
15 10.4
16 4.9
17 4.6
17 4.6
19 2.9
20 2.5
60,887 18 2
44,858 11 5
44,721 11 1
41,849 9 15
41,306 13 3
40,709 7 14
34,846 3 43
29,780 10 10
27,891 7 13
24,891 6 11
23,332 7 4
20,283 6 12
19,281 3 20
18,957 3 56
11,372 17 17
5,400 1 -
5,000 1 -
5,000 1 -
3,132 13 7
2,726 3 47
36.5
22.5
45.4
11.0
30.0
13.0
0.4
15.5
13.4
13.8
29.9
13.6
8.0
0.0
9.5
-
-
-
18.7
0.2
19.1
18.5
(4.5)
27.2
7.7
24.2
31.4
11.7
12.1
8.9
(8.6)
4.9
9.6
17.3
0.9
4.9
4.6
4.6
(15.8)
2.3
TOTAL $109,465 767 $124,428
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
25
Bloomberg
M&A Financial Advisory League Tables
Iberia Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Bank of America Merrill Lynch
Banco Santander SA
Goldman Sachs & Co
UBS AG
Deutsche Bank AG
Morgan Stanley
BNP Paribas SA
Banco Bilbao Vizcaya Argentaria SA
Societe Generale SA
Credit Agricole Corporate & Investment Bank SA
Simon Robertson Associates LLP
Rothschild Ltd
N+1 Srl
JPMorgan Chase & Co
Lazard Ltd
Barclays PLC
Caixa Geral de Depositos SA
CIBC
Nomura Holdings Inc
KPMG Corporate Finance LLC
1 37.8
2 34.4
3 33.2
4 30.5
5 22.8
6 22.1
7 19.8
8 17.4
9 17.1
10 15.9
10 15.9
12 13.9
13 10.4
14 8.7
15 7.3
16 4.9
17 3.5
18 2.7
19 2.5
20 2.5
23,883 6 9
21,759 12 2
20,984 7 1
19,287 7 19
14,434 7 45
14,007 9 6
12,519 9 23
11,009 10 5
10,847 4 8
10,026 1 30
10,026 1 -
8,815 6 13
6,546 5 37
5,471 4 7
4,592 10 24
3,112 4 3
2,221 2 15
1,700 1 -
1,605 2 26
1,581 16 10
3.0
11.3
19.5
2.0
0.0
4.1
1.8
7.5
3.0
0.8
-
2.8
0.2
3.5
1.8
11.2
2.5
-
1.7
2.9
34.8
23.1
13.7
28.5
22.8
18.0
18.0
9.9
14.1
15.1
15.9
11.1
10.2
5.2
5.5
(6.3)
1.0
2.7
0.8
(0.4)
TOTAL $63,274 380 $33,900
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
26
Bloomberg
M&A Financial Advisory League Tables
Nordic Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Deutsche Bank AG
Goldman Sachs & Co
Nordea Bank AB
Skandinaviska Enskilda Banken AB
JPMorgan Chase & Co
Rothschild Ltd
Morgan Stanley
Citigroup Inc
UBS AG
PricewaterhouseCoopers LLP
Banco Santander SA
Bank of Nova Scotia/The
Access Partners
Saga Corporate Finance
Barclays PLC
ABG Sundal Collier Holding ASA
Fondsfinans ASA
Lazard Ltd
Wells Fargo & Co
Aventum Partners Oy
1 29.3
2 22.6
3 20.3
4 19.5
5 19.4
6 15.1
7 14.6
8 14.4
9 8.7
10 4.1
11 3.6
12 3.2
13 3.1
14 2.6
15 2.6
16 2.5
17 2.0
18 1.9
19 1.8
20 1.6
24,783 10 15
19,089 14 1
17,137 10 5
16,441 15 4
16,423 10 2
12,794 9 17
12,300 6 6
12,159 5 21
7,326 6 7
3,475 38 13
3,061 2 40
2,700 1 -
2,616 5 71
2,167 1 -
2,156 3 3
2,089 4 70
1,728 1 -
1,609 8 18
1,500 1 -
1,357 1 55
4.8
33.2
10.8
10.9
28.4
3.1
10.5
1.8
10.0
5.6
0.6
-
0.0
-
12.8
0.0
-
2.9
-
0.1
24.5
(10.6)
9.5
8.6
(9.0)
12.0
4.1
12.6
(1.3)
(1.5)
3.0
3.2
3.1
2.6
(10.2)
2.5
2.0
(1.0)
1.8
1.5
TOTAL $84,505 999 $58,202
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
27
Bloomberg
M&A Financial Advisory League Tables
Africa/Middle East Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
UBS AG
Macquarie Group Ltd
Morgan Stanley
Citigroup Inc
Grant Samuel Securities Pty Ltd
Lazard Ltd
Goldman Sachs & Co
Rothschild Ltd
Bank of America Merrill Lynch
Deutsche Bank AG
Credit Suisse Group AG
Barclays PLC
Gresham Partners Ltd
Leonardo & Co SpA
ING Groep NV
JPMorgan Chase & Co
Jefferies Group LLC
William Blair & Co LLC
FirstRand Bank Ltd
Standard Chartered Bank
1 15.8
2 14.3
3 13.5
4 12.5
5 12.4
6 10.7
7 10.4
8 6.8
9 6.1
10 5.8
11 4.9
12 4.8
13 3.0
14 2.8
15 2.5
16 2.4
17 1.9
18 1.1
19 1.0
20 1.0
10,429 5 6
9,437 4 32
8,938 8 1
8,297 14 2
8,205 2 -
7,095 4 10
6,904 10 9
4,517 9 22
4,015 10 8
3,831 2 20
3,254 8 7
3,172 9 3
2,010 1 37
1,866 2 -
1,676 1 -
1,554 5 11
1,225 3 24
726 2 45
687 3 34
676 3 13
12.7
0.7
25.0
20.0
-
9.2
10.2
1.3
10.3
1.5
11.4
18.7
0.5
-
-
5.4
1.1
0.3
0.7
3.5
3.1
13.6
(11.5)
(7.5)
12.4
1.5
0.2
5.5
(4.2)
4.3
(6.5)
(13.9)
2.5
2.8
2.5
(3.0)
0.8
0.8
0.3
(2.5)
TOTAL $66,156 824 $71,479
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
28
Bloomberg
M&A Financial Advisory League Tables
Eastern Europe Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co 1 21.7 10,620 9 14 4.9 16.8
Deutsche Bank AG 2 21.7 10,591 8 4 12.3 9.4
Rothschild Ltd 3 18.4 8,985 11 25 1.1 17.3
Morgan Stanley 4 16.7 8,187 7 3 15.1 1.6
BNP Paribas SA 5 8.7 4,266 5 17 2.2 6.5
Citigroup Inc 6 6.7 3,263 12 5 11.2 (4.5)
Evercore Partners Inc 7 4.8 2,325 2 - - 4.8
Barclays PLC 8 4.1 2,004 4 12 5.3 (1.2)
Credit Suisse Group AG 9 3.7 1,830 3 10 5.6 (1.9)
Sberbank CIB CJSC 10 2.3 1,141 8 7 6.8 (4.5)
Jefferies LLC 11 2.0 1,000 1 - - 2.0
HSBC Bank PLC 12 1.7 829 1 - - 1.7
JPMorgan Chase & Co 12 1.7 829 1 2 15.2 (13.5)
Bank of America Merrill Lynch 14 1.3 639 3 8 6.3 (5.0)
UBS AG 15 1.0 497 1 39 0.2 0.8
VTB Capital ZAO 16 1.0 475 7 1 17.3 (16.3)
FirstEnergy Capital Corp 17 1.0 470 2 42 0.1 0.9
Deloitte Touche Tohmatsu ILA Group Ltd 18 0.7 336 4 53 0.0 0.7
Blackstone Group LP/The 19 0.6 273 1 - - 0.6
ING Groep NV 20 0.6 268 1 16 2.9 (2.3)
TOTAL $48,921 870 $73,384 *Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
29
Bloomberg
M&A Financial Advisory League Tables
Asia Pacific Ex-Japan Announced Deals
Any Involvement 1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Morgan Stanley
Citigroup Inc
Bank of America Merrill Lynch
Deutsche Bank AG
CITIC Securities Co Ltd
Lazard Ltd
Credit Suisse Group AG
JPMorgan Chase & Co
Somerley International Ltd
UBS AG
Macquarie Group Ltd
Rothschild Ltd
China Securities Co Ltd
PricewaterhouseCoopers LLP
DBS Group Holdings Ltd
KPMG Corporate Finance LLC
Haitong Securities Co Ltd
Samsung Securities Co Ltd
HSBC Bank PLC
1 15.0
2 15.0
3 13.4
4 9.7
5 9.2
6 8.3
7 8.3
8 7.2
9 6.8
10 5.4
11 5.3
12 5.0
13 3.8
14 3.7
15 3.7
16 3.4
17 2.8
18 2.8
19 2.6
20 2.4
78,839 56 6
78,741 44 1
70,244 55 11
50,917 25 5
48,159 33 13
43,724 19 9
43,621 25 12
37,580 37 7
35,545 46 3
28,555 25 18
27,683 33 4
26,059 48 10
20,129 41 23
19,577 15 38
19,449 67 16
18,049 12 57
14,959 62 22
14,456 12 39
13,850 8 51
12,418 18 8
7.3
10.3
3.7
7.3
3.5
4.9
3.6
6.7
9.1
2.2
8.2
4.2
1.8
0.7
2.7
0.3
1.9
0.7
0.4
5.2
7.7
4.7
9.7
2.4
5.7
3.4
4.7
0.5
(2.3)
3.2
(2.9)
0.8
2.0
3.0
1.0
3.1
0.9
2.1
2.2
(2.8)
TOTAL $525,911 5,960 $413,735
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
30
Bloomberg
M&A Financial Advisory League Tables
Asia Pacific Ex-Japan Announced Deals
Target or Seller 1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Morgan Stanley
Goldman Sachs & Co
Citigroup Inc
Deutsche Bank AG
Bank of America Merrill Lynch
CITIC Securities Co Ltd
Lazard Ltd
Somerley International Ltd
JPMorgan Chase & Co
UBS AG
Credit Suisse Group AG
Macquarie Group Ltd
China Securities Co Ltd
PricewaterhouseCoopers LLP
DBS Group Holdings Ltd
Haitong Securities Co Ltd
Rothschild Ltd
Samsung Securities Co Ltd
KPMG Corporate Finance LLC
HSBC Bank PLC
1 15.2
2 14.4
3 13.0
4 8.9
5 8.7
6 8.1
7 7.4
8 6.3
9 5.9
10 5.6
11 5.2
12 5.0
13 4.3
14 4.3
15 4.0
16 3.2
17 3.2
18 3.1
19 2.9
20 2.7
68,518 32 3
64,882 43 5
58,765 43 13
40,092 26 15
39,265 16 8
36,403 15 10
33,555 14 16
28,555 25 17
26,450 36 2
25,375 26 1
23,239 29 6
22,346 46 7
19,577 15 33
19,165 62 14
18,049 12 60
14,456 12 34
14,214 23 27
13,850 8 51
12,964 48 20
12,158 15 9
6.9
5.4
3.2
2.8
4.7
3.8
2.7
2.6
7.9
9.2
5.0
5.0
0.9
3.0
0.2
0.8
1.3
0.3
2.2
4.7
8.3
9.0
9.8
6.1
4.0
4.3
4.7
3.7
(2.0)
(3.6)
0.2
-
3.4
1.3
3.8
2.4
1.9
2.8
0.7
(2.0)
TOTAL $451,350 5,125 $340,991
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
31
Bloomberg
M&A Financial Advisory League Tables
Australia & New Zealand Announced Deals
Any Involvement 1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Macquarie Group Ltd
UBS AG
Credit Suisse Group AG
Deutsche Bank AG
Citigroup Inc
Bank of America Merrill Lynch
Lazard Ltd
Morgan Stanley
Grant Samuel Securities Pty Ltd
BMO Capital Markets Corp/Toronto
CITIC Securities Co Ltd
JPMorgan Chase & Co
Rothschild Ltd
Gresham Partners Ltd
Standard Chartered Bank
PricewaterhouseCoopers LLP
Bank of Nova Scotia/The
Credit Agricole Corporate & Investment Bank SA
RBC Capital Markets
1 33.6
2 25.0
3 18.0
4 16.3
5 15.4
6 15.1
7 14.7
8 13.0
9 12.6
10 12.2
11 8.9
12 8.2
13 8.1
14 7.2
15 4.8
16 4.6
17 2.7
18 2.6
19 2.2
20 2.0
28,784 20 5
21,430 39 2
15,371 19 1
13,908 9 14
13,134 8 15
12,936 11 7
12,562 7 11
11,090 8 3
10,769 7 4
10,443 7 25
7,572 2 -
7,005 1 -
6,964 12 8
6,185 11 35
4,063 10 6
3,913 4 31
2,338 17 22
2,229 1 21
1,894 1 -
1,702 5 27
8.0
13.1
17.0
2.3
2.2
4.9
3.1
12.8
10.8
0.9
-
-
4.1
0.2
5.3
0.4
1.1
1.1
-
0.6
25.6
11.9
1.0
14.0
13.2
10.2
11.6
0.2
1.8
11.3
8.9
8.2
4.0
7.0
(0.5)
4.2
1.6
1.5
2.2
1.4
TOTAL $85,594 1,144 $56,908
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
32
Bloomberg
M&A Financial Advisory League Tables
Japan Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Morgan Stanley
Credit Suisse Group AG
Centerview Partners LLC
Nomura Holdings Inc
Goldman Sachs & Co
Sumitomo Mitsui Financial Group Inc
JPMorgan Chase & Co
Citigroup Inc
Daiwa Securities Group Inc
KPMG Corporate Finance LLC
Deutsche Bank AG
Mizuho Financial Group Inc
GCA Savvian Corp
Fondsfinans ASA
PricewaterhouseCoopers LLP
Development Bank of Japan Inc
Evercore Partners Inc
Macquarie Group Ltd
Maxim Group LLC
Bank of America Merrill Lynch
1 41.8
2 20.8
3 20.3
4 13.6
5 13.3
6 12.7
7 10.1
8 6.1
9 6.0
10 4.6
11 4.5
12 4.1
13 2.7
14 2.2
15 1.8
16 1.5
17 1.2
18 1.1
19 1.0
20 0.9
33,200 30 1
16,540 8 12
16,094 2 48
10,812 57 4
10,533 11 2
10,097 96 3
8,048 12 7
4,823 8 30
4,793 36 9
3,641 28 32
3,534 4 6
3,224 72 15
2,173 23 13
1,728 1 -
1,402 11 27
1,209 11 16
932 3 40
888 2 51
800 1 -
709 3 5
29.3
6.2
0.2
12.9
21.3
16.0
8.6
1.5
7.9
1.5
9.0
5.1
6.0
-
2.0
4.8
0.4
0.2
-
12.9
12.5
14.6
20.1
0.7
(8.0)
(3.3)
1.5
4.6
(1.9)
3.1
(4.5)
(1.0)
(3.3)
2.2
(0.2)
(3.3)
0.8
0.9
1.0
(12.0)
TOTAL $79,426 1,768 $86,627
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
33
Bloomberg
M&A Financial Advisory League Tables
China Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Morgan Stanley
CITIC Securities Co Ltd
Goldman Sachs & Co
Citigroup Inc
Deutsche Bank AG
Bank of America Merrill Lynch
Lazard Ltd
Somerley International Ltd
China Securities Co Ltd
JPMorgan Chase & Co
Haitong Securities Co Ltd
Credit Suisse Group AG
PricewaterhouseCoopers LLP
Huatai Securities Co Ltd
Guotai Junan Securities Co Ltd
China International Capital Corp Ltd
UBS AG
BMO Capital Markets Corp/Toronto
Northeast Securities Co Ltd/Old
Southwest Securities Co Ltd
1 21.0
2 18.3
3 15.1
4 13.4
5 12.0
6 11.8
7 10.6
8 9.8
9 8.2
10 7.1
11 6.1
12 6.0
13 4.8
14 4.2
15 4.1
16 4.0
17 3.7
18 2.9
19 2.9
20 2.0
50,119 19 3
43,724 19 1
35,942 15 7
31,962 19 17
28,669 10 11
28,254 10 14
25,218 9 30
23,341 17 8
19,577 15 18
16,994 16 5
14,456 12 20
14,312 7 10
11,451 6 67
10,067 19 21
9,699 15 48
9,644 8 4
8,765 9 13
7,005 1 -
6,981 4 45
4,805 21 16
9.1
11.4
5.2
1.8
2.7
2.2
0.8
4.8
1.6
6.5
1.6
3.3
0.2
1.5
0.3
7.2
2.6
-
0.4
2.0
11.9
6.9
9.9
11.6
9.3
9.6
9.8
5.0
6.6
0.6
4.5
2.7
4.6
2.7
3.8
(3.2)
1.1
2.9
2.5
-
TOTAL $238,786 2,053 $177,445
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
34
Bloomberg
M&A Financial Advisory League Tables
Hong Kong Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Citigroup Inc
Bank of America Merrill Lynch
Deutsche Bank AG
Morgan Stanley
CITIC Securities Co Ltd
Lazard Ltd
JPMorgan Chase & Co
Credit Suisse Group AG
Nomura Holdings Inc
BMO Capital Markets Corp/Toronto
Somerley International Ltd
HSBC Bank PLC
DBS Group Holdings Ltd
KPMG Corporate Finance LLC
UBS AG
BNP Paribas SA
Gram Capital Ltd
Sumitomo Mitsui Financial Group Inc
Grant Samuel Securities Pty Ltd
1 44.5
2 43.3
3 36.6
4 32.1
5 31.3
6 24.5
7 23.3
8 16.4
9 11.0
10 7.8
11 7.0
12 7.0
13 6.3
14 5.7
15 5.0
16 4.8
17 4.1
18 3.6
19 2.0
20 1.6
44,552 15 8
43,338 9 15
36,587 5 2
32,100 8 11
31,263 8 6
24,465 2 -
23,260 2 24
16,431 12 13
11,043 8 10
7,752 7 25
7,005 1 -
6,982 13 3
6,301 7 1
5,727 2 81
4,951 2 78
4,788 5 4
4,144 11 35
3,601 9 -
2,032 4 -
1,619 1 -
5.2
3.1
8.2
4.1
6.2
-
1.4
3.8
4.4
1.4
-
7.5
10.2
0.1
0.1
6.7
0.7
-
-
-
39.3
40.2
28.4
28.0
25.1
24.5
21.9
12.6
6.6
6.4
7.0
(0.5)
(3.9)
5.6
4.9
(1.9)
3.4
3.6
2.0
1.6
TOTAL $100,020 745 $40,541
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
35
Bloomberg
M&A Financial Advisory League Tables
India Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Citigroup Inc
Ernst & Young
Bank of America Merrill Lynch
ICICI Bank Ltd
GCA Savvian Corp
Evercore Partners Inc
Goldman Sachs & Co
JM Financial Ltd
HSBC Bank PLC
Kotak Mahindra Bank Ltd
Rothschild Ltd
Standard Chartered Bank
Macquarie Group Ltd
Jefferies LLC
Morgan Stanley
JPMorgan Chase & Co
Axis Bank Ltd
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/
Deloitte Touche Tohmatsu ILA Group Ltd
Credit Suisse Group AG
1 27.8
2 17.7
3 16.1
4 14.0
5 13.6
5 13.6
5 13.6
8 12.1
9 10.7
10 6.7
11 6.3
12 5.1
13 4.7
14 4.1
15 3.5
16 3.0
17 2.7
18 2.4
19 1.8
20 1.7
8,393 5 1
5,333 20 8
4,841 3 3
4,215 6 17
4,088 4 33
4,088 1 -
4,088 1 10
3,656 5 22
3,217 1 5
2,022 14 12
1,910 9 16
1,546 4 6
1,421 4 19
1,223 3 11
1,057 3 4
915 4 32
808 8 13
724 1 -
549 9 23
512 3 7
29.0
11.9
23.4
2.6
0.3
-
7.4
1.4
16.9
6.0
2.7
15.2
2.1
6.8
19.5
0.4
5.3
-
1.1
13.3
(1.2)
5.8
(7.3)
11.4
13.3
13.6
6.2
10.7
(6.2)
0.7
3.6
(10.1)
2.6
(2.7)
(16.0)
2.6
(2.6)
2.4
0.7
(11.6)
TOTAL $30,150 614 $23,459
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
36
Bloomberg
M&A Financial Advisory League Tables
South East Asia Announced Deals
Any Involvement
1/1/14 - 9/30/14
FIRM
RANK MKT
2014
VOLUME DEAL
2013
RANK MKT
MKT SHARE
SHARE USD (Mln) COUNT SHARE CHANGE
Goldman Sachs & Co
Credit Suisse Group AG
DBS Group Holdings Ltd
Bank of America Merrill Lynch
JPMorgan Chase & Co
Citigroup Inc
Deutsche Bank AG
Rothschild Ltd
Standard Chartered Bank
Morgan Stanley
United Overseas Bank Ltd
HSBC Bank PLC
Nomura Holdings Inc
CIMB
KPMG Corporate Finance LLC
Somerley International Ltd
Macquarie Group Ltd
UBS AG
Maybank
Tudor Pickering Holt & Co
1 17.2
2 16.5
3 16.1
4 14.2
5 13.0
6 12.7
7 9.6
8 8.4
9 7.9
10 7.8
11 7.8
12 6.8
13 6.7
14 5.6
15 4.7
16 4.7
17 4.2
18 2.7
19 2.0
20 1.9
18,288 14 8
17,530 14 3
17,038 10 25
15,057 8 1
13,820 19 2
13,486 12 24
10,181 15 12
8,927 7 26
8,412 8 23
8,266 12 5
8,260 2 59
7,224 6 9
7,156 7 18
5,888 23 20
5,002 9 66
4,955 2 71
4,429 5 6
2,834 2 13
2,126 15 11
2,000 1 -
9.9
16.3
1.3
18.7
17.3
1.4
7.7
1.2
1.5
14.0
0.1
8.8
4.7
4.3
0.0
0.0
12.5
7.1
7.8
-
7.3
0.2
14.8
(4.5)
(4.3)
11.3
1.9
7.2
6.4
(6.2)
7.7
(2.0)
2.0
1.3
4.7
4.7
(8.3)
(4.4)
(5.8)
1.9
TOTAL $106,110 1,171 $96,250
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.
37
Bloomberg League Criteria
Announced Global League Tables are based upon announced total values, unless otherwise stated in the title. Non-US dollar values are converted to US dollars at the time of announcement.
Credit will be given to transactions in which Bloomberg classifies as mergers, acquisitions, divestitures, self-tenders, or spin-offs.
Regional and industry League Tables will be based on the country of risk and industry of the ultimate publicly traded parent of a privately held company where applicable.
Advisors to any member of an investor group, consortium, or joint venture are eligible for full credit.
Advisory fees hold no weight over advisory credit.
General Database Criteria
A transaction is considered to have been announced upon the release of terms offered by the acquirer, and acknowledgement of the offer by the target company.
Deals that are considered to be in proposed status will not be granted credit.
Full versions of Bloomberg’s League Tables Standards & Guidelines can be accessed on Bloomberg Professional:
{IDOC 2072054<GO>}: M&A
Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.
38
Bloomberg League Criteria
Announced Global League Tables are based upon announced total values, unless otherwise stated in the title. Non-US dollar values are converted to US dollars at the time of announcement.
Credit will be given to transactions in which Bloomberg classifies as mergers, acquisitions, divestitures, self-tenders, or spin-offs.
Regional and industry League Tables will be based on the country of risk and industry of the ultimate publicly traded parent of a privately held company where applicable.
Advisors to any member of an investor group, consortium, or joint venture are eligible for full credit.
Advisory fees hold no weight over advisory credit.
General Database Criteria
A transaction is considered to have been announced upon the release of terms offered by the acquirer, and acknowledgement of the offer by the target company.
Deals that are considered to be in proposed status will not be granted credit.
Full versions of Bloomberg’s League Tables Standards & Guidelines can be accessed on Bloomberg Professional:
{IDOC 2072054<GO>}: M&A
Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.
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