The electricity company looks set to be the latest major British company to fall into foreign hands. Spanish utility firm Iberdrola SA is using Citigate Dewe Rogerson for its £11.6bn approach for the firm.
The deal pushes the latter agency to second in November's table.
In third spot sits Financial Dynamics, whose headline deal was insurance company Aviva's purchase of life insurer AmerUs for nearly £2bn. The deal looked set to go through earlier in the summer, but was held up by minor legal issues.
Finsbury - top of the Deal Watch table in September (PRWeek, 6 October) and October (PRWeek, 10 November) - slipped to fourth this time around. But the agency helped to see off another advance for client the London Stock Exchange. Nasdaq used Gavin Anderson (sixth in the table, below) for its £2.9bn approach.
In fifth place, down one from last month, was Brunswick, which advised West End property firm London Merchant Securities through its £1.5bn sale to rival Derwent Valley Holdings (PRWeek, 24 November).
Equus Group made a rare Deal Watch appearance in seventh spot. The agency advised private equity group Duke Street Capital as it offloaded health and fitness chain Esporta to the Halabi family for £460m.
Maitland (eighth) was the only other agency to break the £1bn barrier as the City embarked on its usual end-of-year slowdown.
DEAL WATCH - November 2006 Rankings
01. Cardew Group, 5 (No. of Deals) - 11,961 (Deal Value £m)
02. Citigate Dewe Rogerson, 10 - 11,758
03. Financial Dynamics, 22 - 6,334
04. Finsbury, 7 - 5,559
05. Brunswick Group, 14 - 4,842
06. Gavin Anderson, 3 - 3,381
07. Equus Group, 2 - 1,464
08. Maitland, 5 - 1,357
09. Hudson Sandler, 6 - 786
10. Tulchan Communications, 7 - 546