Glencore deal bonanza helps prop up a struggling market

Marion Dakers
THE M&A MARKET might be moribund in 2012, but a handful of massive deals have helped prop up activity figures – and the rankings of several top banks.

Glencore’s long-awaited advances on Xstrata in February added $48.9bn to Thomson Reuters’ M&A values for the first quarter of the year.

And the army of banks working on the tie-up have enjoyed a boost to their deal numbers. JP Morgan and Goldman, number one and two in world M&A work in the year to date, are working for Xstrata, alongside Deutsche Bank, Nomura and M Klein.

Barclays was added to the roster relatively late, but its inclusion has helped lift the bank to sixth place.

Citi, Morgan Stanley and Credit Suisse kept places in the top ten in part thanks to their work for Glencore. BNP Paribas has snuck into the Europe top ten via its place on the deal.

Cisco’s purchase of TV-encryption company NDS last week has added a further $5bn to JP Morgan’s stats, while Brazilian banking giant Itau’s $6.8bn acquisition of Redecard boosted Citi and Rothschild.

UPS’s $6.5bn purchase of TNT has helped Lazard secure ninth place, up from 16th a year ago.