- There have been several mergers and acquisitions in 2019 that are set to reshape the dynamic of industries such as defense, pharmaceuticals, and energy.
- Mergermarket — an editorial and analytics firm that tracks M&A activity — published its third quarter report highlighting the biggest deals and the banks behind them.
- Here are the 12 banks who advised the most M&A activity in the third quarter of 2019.
- Visit the Business Insider homepage for more stories.
Massive mergers and acquisitions in 2019 are set to change the landscape of industries such as defense, pharmaceuticals, and energy.
Editorial and analytics firm Mergermarket published its quarterly M&A report detailing overall deal flow for the year, the biggest transactions, and the banks behind them.
According to the firm's report, global M&A volume is down 11.4% year-over-year to $2.49 trillion over the first three quarters of 2019. However, while the overall volume is down, the average deal size has swelled to a record $424.6 million. The dynamic suggests dealmakers are looking for fewer, larger deals.
"Whether they are motivated by the desire to get more growth, or a way to secure future survival, deals are getting larger," global editorial analytics director Beranger Guille said in the report.
Guille continued: "On the back of the longest equity bull market in history, and amid persistently low interest rates, corporates have ample cash reserves and appealing debt financing options at their disposal to pursue M&A."
Here are the 12 banks who advised the most M&A activity in the third quarter of 2019, ranked in increasing order of total deal volume:
12. Jefferies
Total deals in Q3: 131
Total value of deals: $162 million
Source: Mergermarket
11. Lazard
Ticker:LAZ
Total deals in Q3: 166
Total value of deals: $167 million
Source: Mergermarket
10. PJT Partners
Ticker: PJT
Total deals in Q3: 30
Total value of deals: $171 million
Source: Mergermarket
9. RBC Capital Markets
Ticker: RY
Total deals in Q3: 80
Total value of deals: $188 million
Source: Mergermarket
8. Barclays
Ticker: BCS
Total deals in Q3: 137
Total value of deals: $251 million
Source: Mergermarket
7. Credit Suisse
Ticker: CS
Total deals in Q3: 116
Total value of deals: $288 million
Source: Mergermarket
6. Bank of America
Ticker: BAC
Total deals in Q3: 149
Total value of deals: $512 million
Source: Mergermarket
5. Evercore
Ticker: EVR
Total deals in Q3: 120
Total value of deals: $559 million
Source: Mergermarket
4. Citigroup
Ticker: C
Total deals in Q3: 154
Total value of deals: $581 million
Source: Mergermarket
3. Morgan Stanley
Ticker: MS
Total deals in Q3: 188
Total value of deals: $764 million
Source: Mergermarket
2. JPMorgan
Ticker:JPM
Total deals in Q3: 210
Total value of deals: $790 million
Source: Mergermarket
1. Goldman Sachs
Ticker: GS
Total deals in Q3: 259
Total value of deals: $981 million
Source: Mergermarket