Morgan Stanley Finishes First Half of 2005 as Top M&A Advisor
Morgan Stanley completed the first half of 2005 with a dominant performance in mergers and acquisitions, advising on 190 announced deals valued at US$354bn, according to numbers released by data provider Thomson Financial.
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Morgan Stanley completed the first half of 2005 with a dominant performance in mergers and acquisitions, advising on 190 announced deals valued at US$354bn, according numbers released by data provider Thomson Financial. Morgan Stanley's 28.4 percent market share easily vaulted the Firm to the top spot of the global M&A league tables.
"The urge to merge remained strong in second quarter," according to Thomson. For the first six months global merger volume climbed to more than $1.2 trillion, the most since the second half of 2000.
The year started with a bang when Morgan Stanley advised AT&T on its $22bn acquisition by SBC Communications. Momentum continued with industry-shaping transactions including advising Washington Mutual on its entry into the credit-card industry with the acquisition of Providian Financial for $6.5bn.
According to Thomson, Morgan Stanley took the number-one spot in the European M&A league tables. The Firm's work on 88 deals throughout Europe translated to a 29.4 percent market share. Total value for those transactions exceeded $142bn, including the $18.1bn acquisition of Allied Domecq PLC by Goal Acquisitions Ltd and the two-step $15.2bn acquisition of Wind Telecomunicazioni SpA by Weather Investments Srl.
Morgan Stanley ranked first for announced deals in Asia ex-Japan ex-Australia/New Zealand, having advised on five of the top 10 deals for this quarter, valued at $32.3bn. With $12.6bn worth of deals coming to a close, the Firm also led the completed Asia ex-Japan ex-Australia/New Zealand league tables.
In Japan, Morgan Stanley further flexed its international deal-making muscle when it advised Mitsubishi Tokyo Financial Group on the mammoth $41bn acquisition of UFJ Holdings, making MTFG the largest banking group by market capitalization in Japan.
Thomson reported that the financial services sector dominated the worldwide M&A scene in the first half of 2005 with announced deal volume of $238bn. Deals were also on the rise in the energy & power and media & entertainment sectors as deal activity better than doubled for both groups.
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