Morgan Stanley has landed its first European advisory role for General Dynamics, the US defence manufacturer which has launched an agreed £309m (€454m) cash offer for Alvis, a UK armoured vehicle maker.
In the six deals General Dynamics has done in Europe since 1995, it has not used an investment bank adviser, according to Dealogic, the investment banking research firm, but UK takeover rules stipulate it has to appoint an investment bank to launch a public offer.