Goldman Sachs returns to the top of 2010 M&A league

 
City A.M. Reporter
GOLDMAN Sachs was the top global mergers and acquisitions advisor last year, retaking the position from rival Morgan Stanley, which derailed its multiyear grip on the ranking in 2009.

Investment banks Goldman Sachs and Morgan Stanley were neck-and-neck in the M&A stakes throughout the year, according to Thomson Reuters data, ahead of rivals JP Morgan, Credit Suisse, Deutsche Bank, UBS, Bank of America and Citigroup.

Apart from 2010, when it was unseated by Morgan Stanley, Goldman held the top spot in M&A for every year since 1997 in the Thomson Reuters league.

It returned to the top spot in 2010 in terms of the value of deals advised on. Goldman advised on 370 deals worth $554.5bn in 2010, compared with Morgan Stanley’s 394 deals worth $538.bn.

The figures include a deal announced on the last day of the year by CVS Caremark to buy Universal American’s Medicare prescription drug business for about $1.25bn. Goldman advised Universal American and Morgan Stanley advised CVS.

Goldman advised GDF Suez Energy on its $25bn tie-up with International Power, and Weather Investment, targeted by Russian group VimpelCom.