Kirkland & Ellis, Goldman, Sachs and Joele Frank Lead The Deal's Third Quarter M&A League Tables
NEW YORK, Oct. 1, 2018 /PRNewswire/ -- The Deal, a business unit of TheStreet, Inc. (NASDAQ: TST), today published its preliminary league tables for the third quarter of 2018, highlighting the top global advisers involved in mergers and acquisitions, bankruptcy, out-of-court restructuring, private equity deals and life settlements.
View the Q3 2018 rankings here.
Taking the top spots for M&A are Kirkland & Ellis LLP, Goldman, Sachs & Co. and Joele Frank, Wilkinson Brimmer Katcher.
"The M&A market cooled off in the third quarter after a blistering start to 2018," notes David Marcus, senior writer for The Deal. "There have been 279 U.S. deals of $100 million or more worth a total of $368 billion since July 1. On an annualized basis, those numbers would still be the sixth-best year for U.S. M&A since 1995. But the number of deals was the least in any quarter since the start of last year, and Q3 dollar volume was 24% less than Q2."
Rankings include the names of lead M&A and/or corporate partners at law firms who represented principals and investment advisers. Only deals involving a change of control at a target company with a market value of $100 million or more are included, and only when a key party involved is a U.S. company. Unless the target is a recognized stand-alone operating business, rankings will not include asset sales, unit sales, sales of subsidiaries, spin-offs or joint ventures.
Kirkland & Ellis LLP also leads the rankings on the Out-of-Court League Table along with FTI Consulting, Inc. and Houlihan Lokey, Inc.
"Higher oil and natural gas prices are not always enough to prevent energy companies from launching restructuring outside of the courtroom," noted Kirk O'Neil, associate editor of The Deal. "Shopping mall retailers are still seeking to restructure out of court to avoid Chapter 11, and predictions that pharmaceutical companies would also seek out-of-court restructuring were accurate."
The Deal's Out-of-Court Restructuring league tables are based on distressed companies that have announced financial restructurings for the full year of 2018, including all industries. Minimum requirements for inclusion include: announcement date between Jan. 1 and Dec. 31, 2018; at least one (1) piece of debt amount stated (bond, note, loan, credit facility, etc.); credit facility security (secured or unsecured); and name of the distressed company. Roles in the league tables will be: legal advisory, financial advisory and other advisory (including Public Relations or Restructuring Adviser).
See the full rankings and company and individual profile details here.
About The Deal
The Deal (www.thedeal.com) provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them. The Deal is a business unit of TheStreet, Inc. (NASDAQ: TST, www.t.st), a leading financial news and information provider. Other business units include TheStreet (www.thestreet.com), an unbiased source of business news and market analysis for investors and BoardEx (www.boardex.com), a relationship mapping service of corporate directors and officers.
Contact: Terri Smith, terri.smith at thestreet.com
SOURCE TheStreet, Inc.
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