It’s a measure of just how thin market activity has been this year that our league tables of M&A advisers for the first six months of 2002 have been knocked sideways by one big deal. When major deals are so few and far between, one transaction can make a huge difference to where the various institutions rank.
Pfizer’s bid for Pharmacia, announced on July 15, represents $59.4 billion-worth of league table boost for Bear Stearns and Lazard Frères which are advising Pfizer, and for Goldman Sachs in the Pharmacia camp – assuming that nothing gets in the way of completion.
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