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).