The bank has advised on six of the 10 largest global transactions, including Gillette’s $57bn sale to Procter and Gamble, Nextel Communications’ $47bn sale to Sprint, and Johnson & Johnson on its $25bn acquisition of Guidant. Goldman also participated in the merger between Federated Department Stores and May Department Stores, Rouse and General Growth Properties, Veritas and Symantec and MetLife/Travelers and Annuity.
This last transaction was a particularly transformational deal, which catapulted MetLife into the position of being largest individual life insurer in North America. The financing of the deal was complex, involving cash and commercial paper, senior term debt, preferred shares, a mandatory convertible and Citigroup stock.
“The M&A business is our flagship relationship business and we have endeavoured to be balanced by industry and by region. We have a focus on being global and consider ourselves one of the leading players in each market around the world,” says Gordon Dyal, global head of M&A.
