GOLDMAN Sachs has pocketed more in banking fees than any of its rivals this decade, having worked on more than a quarter of the $26.9 trillion (£16.9 trillion) worth of company takeovers which happened over the last ten years.
According to research compiled by City data provider Dealogic for the Financial Sunday Express, 321,532 corporate takeovers and mergers have taken place globally over the past decade.
The research shows that Goldman advised its clients around the world on deals worth a combined total of $7.2 trillion (£4. 5trillion) over the past 10 years, making it the biggest earner among the investment banks in terms of merger and acquisition fees.
Investment banks’ charges are dependent upon the size of the deals they work on. Larger deals command larger fees.
Some of this decade’s biggest deals include Vodafone’s £112 billion takeover of Germany’s Mannesmann, AOL’s deal with Time Warner and the takeover of Boots the Chemist by private equity firm KKR.
In second place behind Goldman was Morgan Stanley, which worked on deals worth a combined total of $6.21 trillion (£3.88 trillion) over the last 10 years. In third place was JP Morgan, which advised on $6.18 trillion (£3.86 trillion) of M&A deals, despite having more clients than both Goldman and Morgan Stanley. Barclays’ investment banking division was in tenth place, having advised clients on deals worth $2.15 trillion (£1.34 trillion) since 2000. Barclays Capital was the only British bank to make Dealogic’s top ten list of global M&A advisors for the decade.
The Dealogic research also shows that about 28,000 companies were either bought or merged with their rivals in Britain this decade, in deals worth a combined total of $2.7 trillion (£1.8 trillion).
Morgan Stanley earned the most from the corporate mergers and acquisitions that took place in the UK this decade, having advised on deals worth $1.24 trillion. In second place in the UK was Swiss banking group UBS with $1.15 trillion worth of deals, closely followed by Goldman, which advised clients on transactions worth a combined total of $1.1 trillion.
It is hard to compare this decade with others because Dealogic’s records started in 1995.
According to financial services research group Mergermarket, the fourth quarter of 2009 has been the best for deals since the fall of Lehman Brothers, partly due to increased activity among the private equity buyout firms.
No comments:
Post a Comment