League Tables - Slightly off?
Had a question about how League Tables are calculated. Many of the boutique banks Greenhill, Rothschild, Lazard, Centerview, Moelis, Allen&Co may do deals with an undisclosed values. For example, Moelis advised Coty and on its acquisition of OPI (advised by Lazard).
Reports in the media was that this deal was worth around $1 billion, but the value was undisclosed. When you check the league tables (at least with Thomson) the deal is counted, but with no disclosed value. Essentially the banks get credit for the deal, but it appears that the Total Announced Value (the most common metric used in league table calculations) does not change. Does this mean that the League Tables perhaps may be slightly off (since most deals with an undisclosed value are smaller)?
From my understanding, league tables are all driven off of public data (or whatever Thomson happens to get their hands on). When a bank like Moelis is compiling their league tables to make themselves #1 in everything... you bet they count every last deal they can find.
Footnotes were invented by investment bankers
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