Credit Suisse is cross-border leader

Credit Suisse First Boston burst from well back in the field to top the 1995 European cross-border deal league table at the halfway stage. CSFB, which was previously ranked 11th, made the leap on the back of a much- improved European mergers and acquisitions market, according to Acquisitions Monthly, which compiled the table.

During the first half of this year, 920 EU companies with a combined value of pounds 24bn were sold to foreign buyers. This compared with 899 deals, worth a total of pounds 16.6bn, during the first half of 1994.

CSFB's 13 cross-border deals had a total value of pounds 4.92bn, more than double the value of the two runners-up together, Lazards and Lehman Brothers. CSFB's main deals were advising Svenska Cellulosa during its pounds 1.02bn acquisition of a 75 per cent stake in the German paper business, PWA, and Boots on its pounds 840m sale of its prescription drugs business to BASF.

Lazards came second, with 16 mandates totalling pounds 2.62bn. Three of these were for US groups, led by Pfizer's pounds 924m purchase of SmithKline Beecham Animal Health.

Lehman Brothers, in third place, was one of five Wall Street firms that crowded into the top table. Merrill Lynch was in fourth position, with nine bids worth pounds 1.91bn, while Morgan Stanley came sixth. Goldman Sachs and JP Morgan trailed at 11th and 18th spot respectively.

Schroders, despite a relatively sluggish spell in the domestic corporate finance market, managed an impressive leap from 17th to fifth place, helped in part by its involvement in the sale of two of its investment banking rivals to overseas buyers. SG Warburg, which was one of those sold, saw its position slump from number three to 10th, a reflection of its troubles. However, taken together with its new owner, Swiss Bank Corp, SBC Warburg would have ranked second, suggesting that the combined operation has good prospects of being a key player in the European mergers and acquisitions arena.

US groups consolidated their position as the most active buyers in Europe, with 208 deals totalling pounds 5.3bn in the first half of the year. These included the announced pounds 2.3bn purchase of CarnaudMetal by Crown Cork & Seal, the largest cross-border deal so far this year.

Germany went from third to second place in the table of acquirers, overtaking the UK largely thanks to the pounds 977m purchase of Kleinwort Benson by Dresdner Bank.

The UK proved to be the most popular destination for overseas predators, with 151 firms being taken over for a total of pounds 10.5bn. Leading City institutions, SG Warburg, Kleinwort Benson and Barings were prominent among this number.

Start your day with The Independent, sign up for daily news emails
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Evening Administrator

£8 per hour: Recruitment Genius: This Pension Specialist was established early...

Guru Careers: Executive Assistant / PA

£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...

Ashdown Group: Graduate Application Support Analyst

£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...

Reach Volunteering: External Finance Trustee Needed!

Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...

Day In a Page

War with Isis: Iraq's government fights to win back Tikrit from militants - but then what?

Baghdad fights to win back Tikrit from Isis – but then what?

Patrick Cockburn reports from Kirkuk on a conflict which sectarianism has made intractable
Living with Alzheimer's: What is it really like to be diagnosed with early-onset dementia?

What is it like to live with Alzheimer's?

Depicting early-onset Alzheimer's, the film 'Still Alice' had a profound effect on Joy Watson, who lives with the illness. She tells Kate Hilpern how she's coped with the diagnosis
The Internet of Things: Meet the British salesman who gave real-world items a virtual life

Setting in motion the Internet of Things

British salesman Kevin Ashton gave real-world items a virtual life
Election 2015: Latest polling reveals Tories and Labour on course to win the same number of seats - with the SNP holding the balance of power

Election 2015: A dead heat between Mr Bean and Dick Dastardly!

Lord Ashcroft reveals latest polling – and which character voters associate with each leader
Audiences queue up for 'true stories told live' as cult competition The Moth goes global

Cult competition The Moth goes global

The non-profit 'slam storytelling' competition was founded in 1997 by the novelist George Dawes Green and has seen Malcolm Gladwell, Salman Rushdie and Molly Ringwald all take their turn at the mic
Pakistani women come out fighting: A hard-hitting play focuses on female Muslim boxers

Pakistani women come out fighting

Hard-hitting new play 'No Guts, No Heart, No Glory' focuses on female Muslim boxers
Leonora Carrington transcended her stolid background to become an avant garde star

Surreal deal: Leonora Carrington

The artist transcended her stolid background to become an avant garde star
LGBT History Month: Pupils discuss topics from Sappho to same-sex marriage

Education: LGBT History Month

Pupils have been discussing topics from Sappho to same-sex marriage
11 best gel eyeliners

Go bold this season: 11 best gel eyeliners

Use an ink pot eyeliner to go bold on the eyes with this season's feline flicked winged liner
Cricket World Cup 2015: Tournament runs riot to make the event more hit than miss...

Cricket World Cup runs riot to make the event more hit than miss...

The tournament has reached its halfway mark and scores of 300 and amazing catches abound. One thing never changes, though – everyone loves beating England
Katarina Johnson-Thompson: Heptathlete ready to jump at first major title

Katarina Johnson-Thompson: Ready to jump at first major title

After her 2014 was ruined by injury, 21-year-old Briton is leading pentathlete going into this week’s European Indoors. Now she intends to turn form into gold
Syrian conflict is the world's first 'climate change war', say scientists, but it won't be the last one

Climate change key in Syrian conflict

And it will trigger more war in future
How I outwitted the Gestapo

How I outwitted the Gestapo

My life as a Jew in wartime Berlin
The nation's favourite animal revealed

The nation's favourite animal revealed

Women like cuddly creatures whilst men like creepy-crawlies
Is this the way to get young people to vote?

Getting young people to vote

From #VOTESELFISH to Bite the Ballot