Goldman Sachs ranked as the top financial adviser to companies targeted by activist investors in 2020, holding onto the top ranking for the second straight year, according to Refinitiv data published on Monday.
During 2020, Goldman advised on 49 campaigns, including Twitter, EBay and Harley Davidson , down modestly from 53 in 2019.The top 10 advisers worked on 186 campaigns last year, when the pandemic curbed activism, compared with 197 in 2019. Spotlight Advisors, which works for both companies and activists, moved into the No. 2 spot with 31 campaigns.AdvertisementVarious providers compile league tables that are often used as data points to woo new clients. But they seldom tell the entire story, bankers say, noting that discrepancies can arise because many companies fend off activists privately and ask their advisers to stay silent about their involvement.
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