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.
In terms of geography, U.S. targets represent 83 deals or 48 percent of the total of bankruptcy M&A.