Goldman Sachs and Rothschild & Co emerged as the top mergers and acquisitions (M&A) financial advisers in Europe in the H1 of 2020, based on deal value and volume, respectively, according to GlobalData, a leading data and analytics company.
Goldman Sachs secured a total deal value of $131bn for 33 deals led by its management of big-ticket deals such as the $33bn Aon-Willis Towers Watson merger and the acquisition of ThyssenKrupp Elevator by a consortium of investors for $18.7bn.
Rothschild & Co led in volume terms, having advised on 81 deals worth $65.8bn during H1.
GlobalData financial deals analyst Aurojyoti Bose said: “Despite advising on relatively fewer deals, Goldman Sachs was the only adviser that crossed the US$100bn mark during the Covid-19 hit H1 2020. The company advised on a total of 18 billion-dollar deals, worth greater than or equal to US$1bn, during H1, outpacing its peers by a great margin. Morgan Stanley occupied the second position by value, with 25 deals worth US$78.1bn, followed by Bank of America with 25 deals worth $68.6bn.”
Bose continued: “By volume, Ernst & Young was the second M&A financial adviser in Europe, with 80 deals worth US$5.2bn, followed by PwC with 66 deals worth $6.4bn. Despite achieving top spot, Rothschild & Co had to settle for fourth position in terms of value.”
The Covid-19 outbreak had a significant impact on deal making in Europe with the count of deals announced in the region declining by almost 12% from 7,436 in H1 2019 to 6,552 in H1 2020, according to GlobalData’s Financial Deals Database.
Deal value also fell by 12.2% from $387.2bn in H1 2019 to $340bn in H1 2020.
Goldman Sachs, which topped the European deals league table by value, took the top position (by value) in the recently released global league table of top 20 M&A financial advisers by GlobalData.
Rothschild & Co, which topped the European league table by volume, took the third spot (by volume) in the global league table.