Hostile takeovers are about the closest that most companies get to outright warfare. From the surprise attack to the point of surrender, the battle rages round the clock. The fees are huge and the battalions enormous. But which are the best banks for chief executives to have in their corner when they find themselves under siege?
New league tables created by Financial News from data supplied by Dealogic, suggest the top defence advisers are worth seeking out. Companies that hired the top two banks fared significantly better in hostile situations than average, both in terms of getting maximum value from persistent bidders or warding off unwanted attacks.