In June, shortly before he became the British prime minister, Gordon Brown announced, “[This is] an era that history will record as the beginning of a new golden age for the City of London.” Meanwhile, New York was digesting the findings of a McKinsey & Company report, commissioned by Mayor Michael Bloomberg, on how the Big Apple might respond to London’s resurgence as a financial center.
More and more, investment bankers, hedge fund specialists and private equity dealmakers are being drawn to the city of sky-high rents, creaking infrastructure and lukewarm, $7-a-pint beer. M&A across Europe has soared — in 2006 more deals were done on the Continent than in North America, according to data from mergermarket — and more typically than not, the finance for these deals is raised in London. Fleeing Sarbanes-Oxley, more international companies are increasingly looking to list on Europe’s equities markets. Last year, more money was raised by companies on London’s junior AIM market than on America’s Nasdaq.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]