HONG KONG—Brunswick and FD were again the two dominant firms in the Asia-Pacific mergers and acquisitions activity during 2009, according to year-end rankings produced by mergermarket, which show Brunswick leading by value of deals (working on 22 transactions worth around $76 billion) and FD leading in terms of volume (35 deals worth $12 billion).
On a global basis, a 27 percent reduction in global M&A activity was coupled with an almost complete absence of IPOs, so that fee income was sharply lower, even though the number and value of insolvency deals eclipsed even the peaks of 2002. The year offered opportunistic buyers the chance to take advantage of stressed and distressed companies, giving rise to a staggering 370 percent increase in the value of insolvency deals since 2008.
Brunswick was helped by its work advising Pfizer on its $63.3 billion bid for Wyeth, the top deal of the year globally, and in Asia by its work on the Rio Tinto-BHP deal, although the firm experienced a $62.2 billion decline in deal value over 2008 total and worked on 58 fewer deals.
In the value ranking, Brunswick finished ahead of Finsbury Group, Hinton & Associates, FD and Hill & Knowlton. In terms of volume, FD beat out Brunswick, Strategic Public Relations Group, Wonderful Sky, and Finsbury. Hong Kong firms SPRG and Wonderful Sky fared even better in the rankings of advisors to mid-market deals, finishing first and second respectively in terms of value and second and third respectively (behind FD) in terms of volume of deals.