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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%.

Expand chart

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).

Go deeper

U.S. grants temporary protected status to thousands of Venezuelans

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Venezuelans living in the United States will be eligible to receive temporary protected status for 18 months, the Department of Homeland Security announced Monday.

Why it matters: Tens of thousands of Venezuelans have fled to the U.S. amid economic, political and social turmoil back home. Former President Trump, on his last full day in office, granted some protections to Venezuelans through the U.S. Deferred Enforced Departure program, but advocates and lawmakers said the move didn't go far enough.

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Chief operating officer Sheryl Sandberg thought Mark Zuckerberg was "nuts" when he raised the possibility in January 2020 that 50,000 Facebook employees might have to work from home. By March 6, they were.

Why it matters: In an interview Monday with Axios Re:Cap, Sandberg explained how Facebook moved quickly to respond to the pandemic with grants for small businesses and work-from-home stipends for its employees, and how the company has been watching the unfolding crisis for women in the workforce.

Supreme Court declines to hear case on qualified immunity for police officers

The Supreme Court on March 5. Photo: Olivier Douliery/AFP via Getty Images

The Supreme Court on Monday declined to hear an appeal for a lawsuit brought against Cleveland police officers that challenges the scope of qualified immunity, the legal doctrine which has been used to shield officers from lawsuits alleging excessive force, Reuters reports.

Why it matters: The doctrine has been the subject of scrutiny from civil rights advocates. Eliminating qualified immunity was one of the key demands of demonstrators during nationwide protests in 2020 following the killing of George Floyd.