Thomson Reuters Investment Banking Scorecard - 14 June 2013

Canada Target M&A Falls 38% From 2012

The $5.6 billion acquisition of grocery store operator Canada Safeway Ltd by Nova Scotia-based Sobeys Inc brings the volume of Canada target M&A to $34.5 billion for year-to-date 2013, a 38% decline from the same time last year. Real estate M&A accounts for 31% of overall Canada M&A this year, followed by retail (18%) and materials (16%). Domestic M&A in Canada accounts for 68% of overall Canada target deal making so far this year, the highest percentage since 2009 when domestic M&A activity accounted for 80% of activity.

CIBC World Markets leads the financial advisor rankings for Canada target M&A this year, up from third place last year at this time, followed by TD Securities. RBC Capital Markets, number one last year at this time has fallen to ninth place.

Global IPO Activity Up 2% YTD 2013

Coty Inc's $1.0 billion initial public offering on the New York Stock Exchange this week lifted global IPO volume to $53.9 billion for year-to-date 2013, a 2% increase compared to the same time last year. US issuers account for one-third of global IPO activity this year, down from 52% last year. Brazil accounts for 12% of IPO activity, followed by China (8%) and the United Kingdom (7%). Financials, real estate and industrials account for 56% of global IPO activity this year, up from 26% during year-to-date 2012.

Goldman Sachs, which has served as bookrunner on six of the top 10 IPOs this year, leads the global IPO rankings with 9.2% market share, an increase of 2.4 market share points. Morgan Stanley, which topped the IPO ranking last year at this time, currently ranks sixth.

BRIC Involvement M&A Down 9%

A $2.7 billion acquisition of the poultry assets of Marfrig Alimentos by Brazil's JBS SA and India's Apollo Tyres Ltd's $2.3 billion acquisition of US-based Cooper Tire & Rubber pushed the volume of M&A activity involving BRIC companies to $151.8 billion for year-to-date 2013, a 9% decline from last year at this time. Energy & power deal making leads BRIC involvement M&A with 19% of the market, followed by consumer staples, which accounts for 15% and has nearly doubled from last year at this time. BRIC materials M&A rounds out the top three sectors with 14% share, despite a 30% decline from year-to-date 2012.

Morgan Stanley leads the ranking for BRIC involvement M&A financial advisors, up from sixth place last year at this time.

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