Morgan Stanley and Ernst & Young have emerged as the top mergers and acquisitions (M&A) financial advisers in the power sector for Q1-Q3 2020 by value and volume, respectively. A total of 1,340 M&A deals were announced in power sector during the period, according to GlobalData, a leading data and analytics company.
According to GlobalData’s M&A report, ‘Global and Power M&A Report Financial Adviser League Tables Q1-Q3 2020’, there was a 27.2% decrease in Q1-Q3 2020 over the 1,840 deals that were announced during Q1–Q3 2019. Deal value also decreased by 19.5% from $188bn in Q1–Q3 2019 to $151bn in Q1–Q3 2020.
In GlobalData’s ranking, Morgan Stanley gained top spot in terms of value by advising on seven deals worth $10.6bn, which was the highest value among all advisers. Meanwhile, Ernst & Young led by volume having advised on 20 deals worth $1bn.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Ernst & Young was the only advisor to touch the volume of 20 deals. However, due to its involvement in low-value transactions, it not only lost the top position by value to Morgan Stanley but also failed to make it to the list of top ten advisors by value.
“In contrast, Morgan Stanley advised on relatively few but high-value deals. The firm advised on three deals worth greater than or equal to $1bn, while Ernst & Young did not advise on any billion-dollar deals.”
Barclays occupied the second position by value, with seven deals worth $10.4bn, followed by UBS, with four deals worth $9bn, and Credit Suisse, with seven deals worth $7.7bn.
PwC occupied the second position by volume with 12 deals worth $0.9bn, followed by Goldman Sachs with ten deals worth $6.9bn and Citi with nine deals worth $5.3bn.