Investment Banking Scorecard - May 26, 2011

AUSTRALIA M&A UP 84%
Foxtel's $2.7 billion bid for Austar United Communications brings the volume of Australia target M&A to $41.6 billion for year-to-date 2011, an increase of 84% over this time last year and the best annual start for Australian merger activity since 2008. M&A in the materials, media and entertainment and industrials sectors account for 77% of overall activity in Australia this year.

Domestic M&A activity in Australia totals $23.4 billion this year, more than double the levels seen during year-to-date 2010. Goldman Sachs, the sole advisor to Austar, tops the year-to-date rankings for Australia target M&A, followed by UBS.

AGENCY & SOVEREIGN DEBT DOWN 5%
The volume of global debt capital markets activity from agency, sovereign and supranational issuers totals $548.8 billion for year-to-date 2011, a decrease of 5% from the year ago period. This week's $13.3 billion two-part debt capital raising from the European Union ranks as the biggest debt offering from the governmental body on record. Year-to-date the European Union has issued $26.3 billion in new debt offerings, which ranks third behind the European Investment Bank ($64.1 billion) and Germany's KfW ($58.9 billion).

Deutsche Bank holds the top spot for global agency & sovereign debt underwriting with $58.0 billion from 188 issues, for 10.6% of the overall market.

@Dealintel: Non-US IPO Listings
Yandex's $1.3bln listing on Nasdaq brings the volume of non-US companies listing on US exchanges to $6.5bln, up from $1.8bln last year at this time. Biggest non-US companies listing on NYSE or Nasdaq this year: Arcos Dorados, Yandex, and RenRen.

@Dealintel: Tech M&A
Twitter's acquisition of Tweetdeck is the firm's seventh M&A deal since 2009; Tech law firm, Fenwick & West, has advised on four of Twitter's deals. Worldwide high technology M&A totals $73.2 billion for year-to-date 2011, up 49% from 2010.

ENDS

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