JP Morgan, UBS led all mining M&A financial advisers by deal value in Q1 — report

JP Morgan and UBS were the top mergers and acquisitions (M&A) financial advisers by total deal value in the metals & mining sector during the first quarter of 2024, according to UK-based analytics firm GlobalData.

The two banks jointly occupied the top position in GlobalData’s latest financial advisers league table (see below), with each of them advising on $2.2 billion worth of deals.

Aurojyoti Bose, lead analyst at GlobalData, said their involvement in the $2.2 billion Alcoa-Alumina M&A deal helped these two firms top the chart by value.

They were followed by Bank of America with $1.7 billion, while Goldman Sachs and Jefferies jointly occupied the fourth position, each at $970 million.

In terms of deal volume, three groups tied for first place with two deals each, but Eight Capital led the way in their total value at $272 million.

Grant Samuel Group and RBC Capital Markets also advised on two deals, with total values of $178 million and $60 million respectively.

GlobalData also tabled the top M&A legal advisers in mining last quarter, with Davis Polk & Wardwell and Cassels Brock & Blackwell leading the sector by value and volume, respectively.

Davis Polk & Wardwell advised on $2.2 billion worth of deals, while Cassels Brock & Blackwell advised on a total of four deals.

“Despite a decline in number of deals advised by it in Q1 2024 compared to Q1 2023, Cassels Brock & Blackwell led by volume. In fact, its ranking by volume improved from second position in Q1 2023 to the top position in Q1 2024,” said Bose.