KEY POINTS:
New Zealand mergers and acquisitions activity rose in the first nine months of the year as deals totalled US$8.3 billion ($11 billion), up 4.2 per cent on the same period last year.
The survey of takeover activity by financial information company Thomson Financial was dominated by the media sector, which provided US$2.3 billion.
Deals included the sale of Telecom's directories business and the takeover of CanWest MediaWorks by private equity player Ironbridge Capital.
The biggest announced deal for the year-to-date was the proposal by the Canadian Pension Plan Investment Board to buy a 49 per cent stake in Auckland Airport, valued by Thomson Financial at US$1.7 billion.
The $2 billion Telecom directories sale and Fletcher Building's purchase of the US-based Formica Corporation for $980 million were second and third on the list.
Goldman SachsJBWere were the top adviser for announced deals with involvement in nearly 30 per cent of the New Zealand takeover activity, or $3 billion of deals, followed by Credit Suisse and ABN Amro.
UBS was top in completed deals advising on US$3.5 billion of mergers and acquisitions, followed by Credit Suisse and Goldman Sachs.
Goldman Sachs would pocket US$20.5 million from four deals - including two of the top three - giving it a 13.4 per cent market share of fees for completed deals in the period.
Credit Suisse was second, earning US$14.3 million from six deals, giving it 9.4 per cent of the market. UBS was third with US$13.3 million of fees from five deals and ABN Amro was fourth with US$10.2 million from five deals.
The industry earned US$153.1 million of fees from takeover deals completed in the period. In Australia US$144 billion of takeovers were concluded. UBS dominated the completed and announced deal tables - including involvement in three of the top five Australian deals - earning US$141.3 in fees.
- NZPA
