Royal Bank of Canada (RY.TO) 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, Bloomberg reported.
Bank of Montreal's (BMO.TO) BMO Capital Markets unit rose to the second spot, while Goldman Sachs Group Inc. ( GS ) was third, data compiled by Bloomberg show. Toronto-Dominion Bank's (TD.TO) TD Securities unit was fourth, while Bank of America Corp.'s ( BA ) Merrill Lynch unit was fifth. Bankers say they expect more transactions next year.
"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 Chief Executive Officer 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 $216.9 billion in 2012, up 19% from $182.8 billion in 2011 and the highest year since 2007, according to Bloomberg data. The figures and rankings are as of today and subject to change as more deals are recorded.
Royal Bank's RBC Capital Markets unit worked on 102 acquisitions valued at $69.6 billion in 2012, including advising Nexen Inc. (NXY.TO) on its $15.1 billion sale to Cnooc Ltd. of China and Glencore International Plc's C$6.1 billion ($6.13 billion) offer for Viterra Inc. (VT.TO), according to Bloomberg data.
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