Thomson Reuters Investment Banking Weekly Scorecard

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Here's this week's Thomson Reuters Investment Banking Scorecard.

US Outbound M&A Hits $153.5 Billion

Outbound acquisitions by US companies totals $153.5 billion for year-to-date 2011, an increase of 123% over this time last year and marks the strongest year for US outbound cross-border M&A since 2007 when activity totaled $228.8 billion. European targets account for 70% of US outbound activity this year, up from 54% during year-to-date 2010.

Target companies in the United Kingdom total $39.1 billion, for 25% of all US outbound buying activity this year, followed by Canada (10%), and Germany and Sweden (7%). High technology deal making represents 19% of this year's total, while energy & power and materials account for 16% and 10%, respectively.

Qatalyst Partners Breaks Top 20

Qatalyst Partners, a San Francisco-based independent investment bank formed in 2008, advised Motorola Mobility on this week's $8.8 billion offer from Google and UK-based Autonomy Corp PLC on a $10.3 billion bid from Hewlett-Packard, to move into the 20th spot for Any US Involvement M&A so far this year, up from 62nd place last year at this time.

The advisory role on H-P/Autonomy ranks as the largest mandate in Qatalyst's history, bringing year-to-date volume for the firm to $29.2 billion from six deals. This is the third time Qatalyst has advised a Hewlett-Packard target, as the firm advised 3Par and Palm on successful bids from H-P that completed in 2010.

Strongest Week For US IG Since May

Bolstered by multi-billion investment grade offerings from AT&T, Occidental Petroleum and Walt Disney, the weekly volume of US-dollar denominated investment grade corporate debt reached $19.9 billion (through Thursday), registering the strongest week for new issuance in the United State since May 2011 when activity totaled $26.0 billion.

As US Treasury yields continued lower this week, Walt Disney Co's $1.8 billion three-part investment grade offering broke the lowest all-time coupon record in the five, 10 and 30 year maturity class, besting records set in 2010 by Colgate-Palmolive (five and 10 year) and Johnson & Johnson (30 year).

Source - Thomson Reuters

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