Sep 29, 2017

Global M&A makes modest gains in 2017

The numbers of global mergers and acquisitions through the first three quarters of 2017 is effectively flat over 2016, although the value of deals rose by 2.1%, according to preliminary data from Thomson Reuters. Within the U.S., the number of deals climbed by 17% but aggregate deal value fell by nearly 9%.

Data: Thomson Reuters; Chart: Lazaro Gamio / Axios

More preliminary data from Thomson Reuters:

  • Bigger the fall: The big global drop was in large transactions, with an 11.4% decrease in the aggregate value of deals worth $5 billion or more. When limited to deals of $10 billion or more, the fall was even steeper to 17.7%.
  • Sector specific: Energy and power made up 15.2% of global deal value, followed by industrials (13.7%) and real estate (12.2%). Energy and power also led the way through the first nine months of 2016, but was tied last year at 14.6% market share with high tech, which in 2017 is tied for fourth with financials (9.9% market share).
  • Biggest deal: So far it's Atlantia's $34.7 billion agreement to acquire Spanish toll road operator Abertis. That's followed by the anticipated U.S. aerospace and defense sector tie-up between United Technologies and Rockwell Collins.
  • Private equity: The number of PE-backed buyouts was flat, but the value of those deals rose nearly 25% over 2016.
  • Wall Street: Goldman Sachs and Morgan Stanley retained their 1-2 punch in terms of both global and U.S. advisory work on M&A, although J.P. Morgan jumped to #3 in both league tables — displacing Citi for global (fell to 4th) and UBS for U.S. (falling to 11).
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