Global M&A At Lowest Ytd Levels Since 2003
• As of February 2, 2012 Global Announced M&A has totaled US$ 120 billion, down 62 percent in deal value and 36 percent in deal count from the same period in 2011 and the lowest levels since 2003 when announced M&A totaled just US$ 89 billion.
• European year-to-date M&A totaled just US$ 22.1 billion, down 67 percent from 2011 and the lowest year-to-date levels since 1996.
• Highlighted by this week’s largest deal, the $3.9 billion purchase of Exxon Mobil’s Japanese arm, deal activity in Japan has been a bright spot year-to-date up 85 percent from 2011.
Debt Markets Dominate All Asset Classes
• Global Debt Capital Markets activity accounted for 73 percent of all deal activity across all capital markets asset classes in January, the highest levels since February 2003 when levels reached 80%. Despite positive gains against other asset classes, debt capital markets activity has fallen 13 percent from levels seen a year ago.
• Petrobras’ February 1st US$7.2 billion debt offering represents the largest ever for a Brazil-based company. The issue represents the 6th largest on record by a BRIC issuer. Including its January 2011 $5.9 billion offering, Petrobras now owns two of the top three all-time Brazilian debt issues.
JPMorgan In Top 2 Of All Asset Classes
• Year-to-date, JPMorgan tops both ECM and DCM league table rankings while taking second to Citi and Bank of America in M&A and Loans respectively. The bank has collected 6.5% or US$ 273.9 million in fees for 2012
• Boutique firm Greenhil & Co (behind its advisory of Roche AG’s US$ 6.4 billion takeover of Illumina Inc) and Moelis (behind its advisory of the US$ 4.6 billion sale of Solutia Inc to Eastman Chemical Co) are the only boutiques to crack the M&A top 10 year-to-date, Greenhill ranked 122nd globally for the same period in 2011.
Source - Thomson Reuters
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