Banks surf cross-border M&A currents

International deals now make up more than half of Goldman Sachs and Morgan Stanley's total mergers and acquisitions work, the highest proportion in at least a decade

For two of America's best-known advisory houses, mergers and acquisitions work has become a little bit more international this year.

Cross-border activity has been a driving force behind mergers and acquisitions activity so far this year, accounting for about 40% of total global M&A deal value, according to Thomson Reuters.

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