Friday, July 16, 2004

Citigroup dominates global M&A market

According to a CF Magazine survey, Citigroup is once again dominating the worldwide market for Mergers and Acquisitions. According to the survey, knowledge of industry and market trends is the most important reason for choosing an investment bank, and insight into the corporates' own business is a close second. Relationship factors in choosing an advisor came fourth with 66% of respondents rating them as important.

Two-thirds of respondents say they f. their acquisitions through available cash. This highlights the reluctance of companies to risk capital markets activity to f. deals. Fifty-six per cent of respondents used their investment bank for both advisory work and financing and there is a move towards lending and advisory being linked “as long as it is a reasonable decision for the C. to involve the universal bank”.