Investment Banking
Mergers and Acquisitions

Our bankers provide mergers and acquisitions advice and services to our clients on some of their most complex strategic decisions and transactions.

Products and Expertise

Our firm is a longstanding market leader in M&A advice, including sell-side advice, raid and activism defenses, cross-border M&A, special committee assignments and complicated merger transactions. We also have been rated the number one merger advisor globally every year since 19971.

Our clients are located across the globe and include businesses, private investors, government agencies, private individuals and families. We provide advice on a full range of transactions, including mergers, sales, acquisitions, leveraged buyouts, joint ventures, raid defenses, spin-offs, divestitures and other restructurings.


Some of our recent “buy side” clients include:

Johnson & Johnson, on its planned acquisition of Synthes ($20.8bn), 2011

Schlumberger, on its acquisition of Smith International ($12bn), 2010

Pfizer, on its acquisition of Wyeth ($65bn), 2009

Sumitomo Mitsui Banking, on its acquisition of Nikko Cordial Securities ($6bn), 2009


We are a longstanding leader in advising on the “sell side” of M&A transactions. Recent clients include:

GDF Suez Energy, on its sale to International Power ($25bn), 2010

E.ON, on the sale of its U.S. business to PPL ($8bn), 2010

Schering-Plough, on its sale to Merck & Co. ($46bn), 2009

Burlington Northern Santa Fe, on its sale to Berkshire Hathaway ($36bn), 2009

Spin-offs and Restructurings

We have advised on a number of restructurings and spin-offs of subsidiary businesses. Recent advisory work includes:

Fiat, on the spin-off of its capital goods activities into Fiat Industrial ($18bn), 2011

Motorola, on its split into two companies and the spin-off of Motorola Mobility ($10bn), 2010

Brookfield Properties, on the restructuring of General Growth Properties ($7bn), 2010

General Electric, on the joint venture between NBC Universal and Comcast ($32bn), 2010

Global Markets

We provide strategic advice to clients in markets around the world, with bankers in offices across the Americas, Europe, the Middle East, Africa and Asia. We have recently advised on a number of M&A deals in growth areas, including:

Weather Investments, on its sale of WindTel and OrascomTel to VimpleCom ($22bn), 2010

Bharti Airtel, on its acquisition of MTN Group ($11bn), 2009

GVT, on its sale to Telecommunicacoes de Sao Paulo and Vivendi ($7bn), 2009

Saudi Telecommunications, on its acquisition of Oger Telecom ($3bn), 2009

Cross-Border Transactions

Our experts have extensive experience in cross-border transactions, including in-depth knowledge of capital markets and regulatory environments. We have advised on a number of landmark deals, including:

Pride International, on its sale to Ensco ($9bn), 2011

Genzyme, on its sale to Sanofi-aventis ($21bn), 2010

APP Pharmaceuticals, on its sale to Fresenius ($6bn), 2009

Liberty Media, on its acquisition of Unity Media ($5bn), 2009

Raid Defenses

We have extensive experience helping clients prepare for potential unsolicited acquisition attempts. Our clients include:

Airgas, on an unsolicited bid from Air Products, 2010

Casey’s General Stores, on an unsolicited bid from Alimentation Couche-Tard, 2010

Potash Corp of Saskatchewan, on an unsolicited bid from BHP Billiton, 2010

Cadbury, on an unsolicited bid from and subsequent sale to Kraft Foods, 2009

Anglo American, on an unsolicited bid from Xstrata, 2009

Mid-Sized Businesses

Our group provides advisory services to clients of all sizes. More than half of our assignments since 2005 have included companies smaller than $1 billion in size. In that same period, we have advised on more than 700 assignments between $500 million and $2 billion in size, more than any of our competitors.2

Private Equity Advisory

For private investment groups, we provide advisory services, along with equity and debt financing solutions. Recent transactions include:

KKR, on Seven Media Group’s acquisition by West Australia Newspapers ($4bn), 2011

Emergency Medical Services, on its sale to Clayton Dubilier & Rice ($3bn), 2011

Burger King Holdings, on its sale to 3G ($4bn), 2010

TPG Capital and Canadian Pension Plan Investment Board, on the acquisition of IMS Health ($5.1bn), 2009

Blackstone, on its acquisition of Busch Entertainment ($3bn), 2009

1 Source: Thomson Reuters and Dealogic
2 Source: Thomson Reuters