BOSTON (Reuters) – Morgan Stanley was ranked as the top adviser to companies targeted by activist investors publicly for the third straight year in 2018 while Goldman Sachs vaulted past two competitors to the number No. 2 spot, according to Refinitiv data published on Thursday.
In 2018, Morgan Stanley advised on 22 campaigns, working with Akamai Technologies, SandRidge Energy and Cigna when those companies faced pressure from prominent agitators such as Elliott Management and Carl Icahn, the data showed.
Mergers - Acquisitions - Companies - Activists - Advisers
Unlike announced mergers and acquisitions, many companies that fend off activists do so quietly and do not want their advisers making the situations public. This can create discrepancies in the data gathered in the league tables.
Goldman Sachs advised on 18 public campaigns in 2018. In 2017 Goldman advised on six public deals, trailing Morgan Stanley, Lazard and Raymond James, claiming the fourth spot, Refinitiv data shows.
Lazard - Number - Spot - Companies - Year
Lazard dropped to the number three spot in 2018, advising 16 companies. In 2017, a less busy year overall, Lazard advised 14 companies.
Spotlight Advisors, founded by Greg Taxin, a lawyer who worked as an investment banker at Goldman Sachs and Banc of...
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