The UK's City PR M&A adviser market has slowed down to its lowest
point for more than four months, according to PRWeek Deal Watch figures
Data compiled by corporate finance information service Zephus
exclusively for PRWeek shows the top value of deals advised on by any
one financial PR firm in July stands at just £5.7bn - more than
£17bn less than in April.
Financial Dynamics (FD) clinched first place in the Top 10 ranking -
compiled according to publicised deals involving at least one UK company
- advising on 19 deals worth £5.7bn.
The agency jumped up three places in the table to overtake Brunswick,
which came second with seven deals totalling just £2.6bn - a drop
of £20.5bn compared to April figures.
Zephus development director Michael Folkman said the slowdown in M&A
activity is partly due to companies winding down for the summer, but
also as a result of the current economic climate and lack of financing
'In the UK M&A market, the levels are generally 25 per cent down on the
number of deals this time last year,' he said. 'The market will be
fairly depressed for the remainder of the year.'
FD and Brunswick largely gained their positions advising on Lafarge's
£2.42bn takeover of Blue Circle, which concluded mid-July.
Last month also saw Havas Advertising launch an agreed £503m bid
for media buying agency Tempus, advised on by The Maitland Consultancy
and Tulchan Communications respectively.
Bell Pottinger Financial, which took third place in the league, advised
Friends Provident on its flotation - one of the only IPOs last month,
which valued the demutualising life assurer at around £3.6bn.
DEAL WATCH JULY 2001 RANKING
Ranking Financial PR Company No of Deal
1 Financial Dynamics 21 5.7
2 Brunswick 7 2.6
3 Bell Pottinger Financial 3 2.5
4 Hudson Sandler 6 2.0
5 Maitland Consultancy 5 0.59
6 Tulchan Communications 1 0.50
7 Weber Shandwick Worldwide 3 0.47
8 Gavin Anderson & Company 3 0.27
9 Smithfield Financial 1 0.26
10 Hogarth Partnership 3 0.15
Source: Zephus Corporate Finance Knowledge (www.zephus.com)