RLM Finsbury was the top global M&A PR advisor by deal value in the first quarter, counseling 25 transactions worth $89.9B, according to mergermarket, which noted M&A activity fell more than 30% during the period over Q1 of 2011.
Source: mergermarket |
RLM worked the quarter’s top two deals, representing commodities trading company Glencore International in its $53.4B acquisition of Xstrata, as well as Sterlite Industries of India, which was acquired for $10.3B by Sesa Goa Ltd.
Brunswick was the top global firm by deal count with 41 and led U.S. firms by value ($32.5B) as it handled the $7.2B purchase of EP Energy Corp., Roche’s $6.8B acquisition of Illumina, and Sinopec’s $2.5B grab of Devon Energy, among others.
The EP Energy deal was the quarter’s largest in the U.S. and also involved Kekst, Rubenstein and Joele Frank, Wilkinson Brimmer Katcher.
Kekst and Company was the U.S. workhorse, counseling 28 deals during Q1, more than any other firm domestically. Kekst was followed in the U.S. by Brunswick (21), Sard Verbinnen & Co. (20), Abernathy MacGregor Group (18), Joele Frank Wilkinson Brimmer Katcher (17) and FTI Consulting (8).
The U.S. market suffered the most precipitous drop in M&A activity, down nearly 54% over 2011, according to mergermarket, which said buyers were possibly put off by unrealistic valuations fueled by a U.S. stock market rally.
Mergermarket said first quarter activity was the lowest since Q3 of 2009 and continued a downward trend that has lasted for five consecutive quarters.