Weekly Investment Banking Scorecard
Kroger’s $2.5 billion bid for North Carolina-based Harris Teeter Supermarkets pushed the level of US retail M&A to $12.7 billion for year-to-date 2013, a decline of 31% compared to last year at this time. Overall US target M&A totals $457.3 billion so far this year, up 21% compared to year-to-date 2012. US acquirors account for 88% of all US target M&A this year, up from 75% during a year ago. Healthcare deal making leads US target activity for year-to-date 2013, with 18% of overall M&A, followed by energy & power (15%) and real estate (12%).
JP Morgan, which advised Harris Teeter, maintains the top ranking for US target M&A financial advisors, followed by Goldman Sachs and Bank of America Merrill Lynch, sole advisor to Kroger. This week’s $3.5 billion corporate bond offering from General Electric Capital Corp ranks as the largest global investment grade corporate new issue since Chevron raised $6.0 billion on June 17th, and brings the weekly total of global investment grade debt to $14.4 billion, the strongest weekly total since the first week of June. Overall global investment grade corporate debt issuance totals $1.5 billion for year-to-date 2013, a decline of 3% compared to a year ago.
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Thomson Reuters Deals Intelligence delivers IB content including quarterly reviews showing trends in M&A and Capital Markets.