BMO emerges as top mining M&A advisor for Q1–Q3

Downtown Toronto. Credit: Flickr Commons.

BMO Capital Markets emerged as the top financial adviser for mergers and acquisitions (M&A) in the global mining sector by value as well as volume through the first three quarters of 2020, says GlobalData, an analytics and consulting firm.

According to GlobalData’s figures, total of 1,233 M&A deals were announced in the metals and mining sector during the period.

This represents a 24.2% increase over the 993 deals announced during the same nine-month period in 2019. However, deal value decreased by 40.1% from $46 billion in Q1–Q3 2019 to $27 billion in Q1–Q3 2020.

In GlobalData’s ranking, BMO Capital Markets gained top spot in terms of deal value and volume by advising on 12 deals worth $4 billion. (Click to see full rankings)

“Of the top 10 advisors by value, BMO Capital Markets was the only adviser to have double-digit deal volume. The firm’s involvement in big-ticket deals also helped it to outpace its peers by a great margin in value terms. The firm was involved in seven $100m+ deals,” Aurojyoti Bose, lead analyst at GlobalData said.

The Bank of Nova Scotia occupied the second position by value with six deals worth $2.7 billion, followed by National Bank of Canada with three deals worth $2.5 billion and JP Morgan with six deals worth $2.3 billion.

Canaccord Genuity Group occupied the second position by volume with 11 deals worth $700 million, followed by RBC Capital Markets with seven deals worth $1.2 billion.

“Mining has remained a key sector for Canada’s economy and it is no surprise that the top three advisers by value and volume are also Canadian firms,” Bose noted.

Top metals & mining M&A deals

Announced dateDeal typeAcquirerTargetValue ($bn)Target country
May 12, 2020AcquisitionVedanta ResourcesVedanta2.1India
February 3, 2020Asset transactionStone Canyon IndustriesBusiness -Kissner Group2.0Canada
May 11, 2020MergerSSR MiningAlacer Gold1.8Canada; United States
March 16, 2020Private equityWaterton Global Resource ManagementHudBay Minerals1.5Canada
September 28, 2020MergerCleveland-CliffsArcelorMittal USA1.4United States

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