FD served as PR advisor to more merger and acquisition deals in 2009 than any other firm, according to mergermarket research, as the FTI Consulting-owned firm worked 148 deals worth $78.4 billion in a miserable year.
Source: mergermarket |
Brunswick Group, which ranked second for total number of deals with 106, topped the value rankings as the firm was involved in transactions totaling a whopping $321.7B.
Brunswick was involved in four of the 10 largest global deals last year, including the largest – repping Pfizer in its $63.3 billion acquisition of Wyeth, which worked with Sard Verbinnen & Co.
Mergermarket noted that global M&A activity fell 27% last year, one in which IPOs were virtually non-existent. It noted firms with blue chip clients fared better than smaller shops as those clients saw a need to communicate to investors as they sought to raise cash or renegotiate loans amid the global economic slump.
Insolvency deals set a record in 2009, eclipsing numbers from dismal 2002 and rising 370% in value from 2008 as some buyers took advantage of distressed companies, mergermarket said.
Kekst Tops North America
Kekst & Company, part of Publicis, worked the most M&A deals in North America with 70, followed by Sard Verbinnen & Co. (65), FD (61), Abernathy MacGregor Group (51), which is owned by Havas, and Joele Frank Wilkinson Brimmer Katcher (50).
Source: mergermarket |
By value in North America, Brunswick again topped the list at $221.8B, followed by Kekst, Sard Verbinnen ($128.4B), Joele Frank ($80.9B) and Abernathy MacGregor ($63.1B).
Sloane & Company was involved in two of North America’s 10 largest M&A deals, including the creation of the “New GM” through Chapter 11, the No. 2 deal in the region for ’09 behind the Wyeth acquisition.
New York-based Sloane worked with Kekst in advising Motors Liquidation Co. (“Old GM”) in its $48.2B acquisition by Vehicle Acquisition Holdings (“New GM”). Sloane also counseled Liberty Entertainment, which was acquired for $15.5 billion by The DirectTV Group.
Kekst took part in three of the top deals in the region. In addition to the GM sale, it counseled Genentech as Roche Holding took a 42% stake worth $44.3B, and Kekst worked with Sard Verbinnen on OneWest Bank, which bought IndyMac Federal Bank from the FDIC for $13.9B. |