NEW YORK: Mergermarket, a London-based company providing online M&A information, has revised its first-ever rankings of North American PR firms. For the firms ranked by volume it has put Kekst & Co. on top with 57 deals for the first six months of 2004.
In an August 10 press release, Mergermarket originally ranked Financial Dynamics as number one in volume with 44 deals for that time period. Kekst was number two with 36 deals. Click here.
The rankings on Mergermarket's website as of Wednesday, however, had Kekst ahead of F-D.
Of the top 10 PR firms listed in the press release, only the number of deals handled by Kekst had changed.
Kekst contacted Mergermarket following the press release, according to Mergermarket CFO Gawn Rowan Hamilton.
Kekst senior partner Jeffrey Taufield said of the newer rankings, "While it's good to be ranked number one in M&A, this is but one area of the firm's growth strategy and one of the many critically vital skill sets we provide to our clients every day."
Such ranking changes are normal, Hamilton said. Mergermarket has done PR firm rankings in Europe for years, and he said they are often updated after their release.
F-D did not respond with a comment by press time.
"Sometimes deals happen and we don't get to hear about them until the advisers start telling us," Hamilton said.
Mergermarket works with the PR firms to determine the rankings. The company first collects M&A information from investment banks and then matches those deals to the PR firms that handled them. The rankings cover deals worth at least $5 million and involving a North American bidder, target, or seller.
Hamilton said Mergermarket does not plan another press release about the rankings until after the end of the third fiscal quarter September 30.
Kekst also topped Mergermarket's value rankings of North American PR firms, according to the August 10 press release.