UK dominates deal rankings

LONDON dominated the global mergers &amp; acquisitions (M&amp;A) scene last week, with deals by buyout vehicle Resolution and gas giant Centrica pushing up UK volumes by 39 per cent compared to last year.<br /><br />Resolution&rsquo;s talk of a $2.7bn (&pound;1.65bn) buyout of insurer Friends Provident was the top announced deal and Centrica&rsquo;s $1.7bn plans to take over gas explorer Venture Production were surpassed only by a Chinese airline deal.<br /><br />The uptick will fuel hopes the City is resuming its position as a world buyout power, as the financial crisis eases and credit begins to flow again. <br />Figures from research firm Thomson Reuters show deals in the financials and materials sectors are accounting for the bulk of the global activity with a combined 82 per cent of volume.<br /><br />The figures also show Morgan Stanley, the US investment banking giant, is holding on to its position as the new adviser of choice for the global M&amp;A market after advising on 130 deals this year so far.<br /><br />The bank, which was ranked seventh by this time last year, has worked on a giant $417bn worth of deals, followed by Goldman Sachs, which last week reported a 64 per cent profit boost. Goldman Sachs has now advised on $362bn of deals. <br /><br />No UK investment banks remain in the top-10 adviser list, with even boutique New York advisory Evercore Partners advising on deals with a total value higher than RBS&rsquo; total.