For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

BofA Merrill Lynch executes most number of M&A deals in 2013 so far: Report

By Religare
|

After a gap of three years, the Bank of America Merrill Lynch has returned to its top position by executing most number of M&A deals in the year 2013 so far, beating its rivals Citibank and Morgan Stanley despite weak deal volumes, according to an Economic Times report.

The report said BofA-ML executed 21 per cent of total deals worth USD 7.96 billion. Among the deals it executed throughout the year, most prominent were acquisition of United Spirits by Diageo and Etihad Airways' purchase of 24 per cent in India's largest airline Jet Airways.

 

Meanwhile, Citi and Morgan Stanley followed BofA-ML with deals worth USD 7.43 billion and USD 7.2 billion, respectively. Investment banks have been forced to shift focus to mid-cap companies amid rising competition at the level of bluechip companies and shrinking companies, said the ET report.

Experts are of the view that going ahead this sector will become tougher due to shrinking deal pipeline and dropping volumes. Moreover, they said that current pipeline consists of a lot of stake sales where debt-ridden companies are trying to raise capital.

Dion Global Solutions Ltd.

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more