Morgan Stanley was the leading financial adviser globally for mergers and acquisitions (M&A) in 2019 in the construction sector, according to GlobalData.
The investment bank left behind its counterparts JP Morgan, Citi and Goldman Sachs to lead the table, with 25 deals worth $43.0bn.
Morgan Stanley stood at the third position in GlobalData’s recently released global league table of top 20 M&A financial advisers.
JP Morgan occupied the second position with 30 transactions worth $40.5bn, followed by Citi with 14 transactions worth $27.8bn.
GlobalData has published a top ten league table of financial advisers ranked according to the value of announced M&A deals globally. If the value remains the same for multiple advisers, deal volume is given weighting.
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By GlobalDataThe construction sector saw a decline in the value of deals in 2019 when compared with 2018. The overall deal value plunged by 44.45% from $368.1bn in 2018 to $204.5bn in 2019. However, deal volume increased by 6.12% from 2,531 to 2,686.
GlobalData financial deals analyst Ravi Tokala says: “With only one megadeal (>$10bn) and less than ~50 deals crossing $1bn in 2019, the construction sector witnessed a major drop in overall deal value as compared with the same period last year. Prologis’ acquisition of Liberty Property Trust for $12.6bn and CapitaLand’s purchase of Ascendas and Singbridge for $8.1bn were instrumental in deciding the top spot for both financial and legal advisers in the league table.”
UK-based Clifford Chance topped the list of top ten legal advisers by value with 19 deals worth $28.1bn. The company occupied the sixteenth position in the global league table of top 20 M&A legal advisers.
Gibson, Dunn & Crutcher, which took the second spot with four deals worth $15.4bn in the sector table, did not figure in the global league table.
GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.
To ensure further robustness to the data, the company also seeks submissions from leading advisers, through adviser submission forms on GlobalData’s website.