Money managers under the microscope
This week's Thomson Reuters Investment Banking Scorecard shows bankruptcy-related M&A at a five year high.
There were five bankruptcy-related M&A deals announced during the week, including the acquisition of venture-backed public company Nanogen by French investment holding company Financiere Elitech for $25.7 million.
So far this year there have been 173 bankruptcy-related deals, the highest level since the same period of 2004 when there were 202.
During 2009 the most bankruptcy-related M&A deals have occurred in the industrials sector with 23 percent, followed by the media and entertainment sector with 16 percent.