Dow Today – Capital Calls: LionTree on the prowl
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
NEW YORK (Reuters Breakingviews) – Concise insights on global finance.
LIONTREE KING. A noted media M&A adviser has traded places with his former employer. Aryeh Bourkoff’s boutique firm LionTree has zipped up the ranks of the merger league tables, appearing on $125 billion of deals so far this year, according to Refinitiv, including counseling AT&T on its spin-off of WarnerMedia to Discovery. Bourkoff is also working with movie studio MGM Holdings on its talks with Amazon.com, the Wall Street Journal has reported.
The former UBS banker is reaping the benefits of focus. A slew of deals in technology, media and telecoms has delivered a rare reversal of fortune: Bourkoff’s outfit is currently the 13th biggest adviser by deal value, based on Refinitiv rankings, one place above the bank he left in 2012.
Moreover, Bourkoff has an edge – for now – over two high-profile former colleagues. The eponymous boutique run by Ken Moelis, who like Bourkoff was formerly UBS’s head of investment banking in the Americas, is currently the 17th ranked merger adviser worldwide. Centerview Partners, the shop of former rainmaker Blair Effron, is 16th. Media is having a moment, and relative to its pack, so is LionTree. (By Jennifer Saba)
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Earlier in Capital Calls:
BlackRock tests Exxon and self too
Hindsight comes quickly to SPAC projections
The Culligan water deal machine changes hands
Sinch share issue sends M&A message
UK trendy-sofa IPO looks overly plumped up
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