RBC Leads in Canada as Takeovers Hit a 5-Year High

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Royal Bank of Canada was the top investment-banking adviser on Canadian deals for the second straight year as mergers surged to a five-year high, led by energy.

Bank of Montreal’s BMO Capital Markets unit rose to the second spot, while Goldman Sachs was third, data compiled by Bloomberg show.

Toronto-Dominion’s TD Securities unit was fourth, while Bank of America’s Merrill Lynch unit was fifth. Bankers say they expect more transactions in 2013.

'We are, based on what we see today, cautiously optimistic that the level of activity for 2013 will be better than 2012', Goldman Sachs Canada CEO John P. Curtin Jr. said in an interview from Toronto.

Canada’s economic stability, improvements in the U.S. economy and a return of confidence to global markets may fuel more takeovers in 2013. Mining and energy will drive deals next year, while areas such as real estate will continue to be busy, according to investment bankers.

Canadian companies were involved in 2,365 announced deals valued at $216.9bn in 2012, up 19% from $182.8bn in 2011 and the highest year since 2007, according to Bloomberg data. The figures and rankings are subject to change, however, as more deals are recorded.

Royal Bank’s RBC Capital Markets unit worked on 102 acquisitions valued at $69.6bn in 2012, including advising Nexen Inc. on its $15.1bn sale to Cnooc Ltd. of China and Glencore International Plc (GLEN)’s $6.13bn offer for Viterra Inc., according to Bloomberg data.

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