dmi.thomsonreuters.comdmi.thomsonreuters.com/Content/Files/Trends in Deal Making_Fourth... · Time Warner Cable Inc DirecTV Inc ... (Active Strategic/Sponsor Acquirors, ... Valuation

*first nine months for each time period

Boutiques are defined as firms earning greater than 85% of fees from M&A and ECM since 2011 with M&A fees

accounting for at least 70% of those corporate finance fees