Morgan Stanley retains billing as top adviser in activist fights: Refinitiv data

Morgan Stanley (N:MS) ranked as the top financial adviser in activist campaigns during the first six months of 2019 while Goldman Sachs (N:GS) and Spotlight Advisors each added clients and tied for second place, according to Refinitiv data. Holding onto the No. 1 spot, Morgan Stanley advised 19 companies, including Bristol-Myers Squibb Co (N:BMY) and United Technologies Corp (N:UTX), in the first half of 2019. A year ago, when activists launched more campaigns overall, Morgan Stanley counseled 23 companies in the first six months of 2018. Goldman Sachs, which worked for eBay Inc (O:EBAY), Bed Bath & Beyond (O:BBBY) and Zayo Group Holdings Inc (N:ZAYO) in the first half of 2019, and Spotlight, which worked for the Rice brothers as they took control of energy company EQT Corp (N:EQT), each listed 17 campaigns. A year ago, Goldman Sachs advised 12 companies while Spotlight, which works for both companies and activist investors, worked on 10 campaigns.