GLOBAL M&A MARKET REVIEW - Bloomberg Finance LP

GLOBAL M&A MARKET REVIEW

FINANCIAL RANKINGS

2016

CONTENTS

1. Introduction 2. Global M&A Heat Map 3. Global M&A Regional Review 4. Global M&A League Tables 5. Americas M&A Regional Review 6. Americas M&A League Tables 8. EMEA M&A Regional Review 9. EMEA M&A League Tables 12. APAC M&A Regional Review 13. APAC M&A League Tables 16. Disclaimer

2016

GLOBAL M&A FINANCIAL ADVISORY RANKINGS

The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equityswaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of recapitalization according to Bloomberg standards.

Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and our Bloomberg Brief newsletter provides summary highlights of weekly M&A activity and top deal trends.

Visit {NI LEAG CRL } to download copies of the final release and a full range of market specific league table results. On the web, visit: .

Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service.

DATA SUBMISSIONS AND QUERIES

North America EMEA Asia Pacific

Contact

Meaghan Burke Madeeha Ahmad Ee Wen Tay

Phone

+1-646-324-1537 +44-20-3525-3754 +65-6231-3404

Email

mburke65@ mchaudhry13@ etay26@

General M&A queries may be submitted to: m-a@, malondon@, maasia@

?2016 Bloomberg Finance L.P. All rights reserved.

Global M&A Heat Map

North America USD 2.2T 1. Goldman Sachs & Co

31.5%

2. Morgan Stanley

30.2%

3. Bank of America Merrill Lynch 28.0%

Western Europe USD 1.1T 1. Goldman Sachs & Co 2. Morgan Stanley 3. Credit Suisse Group AG

38.9% 30.8% 23.8%

Eastern Europe USD 99.2B 1. VTB Capital JSC 2. UBS AG 3. Bank of America Merrill Lynch

25.8% 17.9% 13.1%

Latin America & Caribbean USD 159.9B 1. Banco Santander SA 2. Banco Itau BBA 3. UBS AG

15.6% 13.0% 11.5%

Middle East & Africa USD 150.5B 1. UBS AG 2. Credit Suisse Group AG 3. Goldman Sachs & Co

20.0% 15.7% 13.3%

Asia Pacific USD 1.3T 1. Morgan Stanley 2. Goldman Sachs & Co 3. UBS AG

15.9% 12.8% 12.1%

Deal volume and adviser market share for any regional involvement (target, seller, or acquirer) for 2016. 2

Global M&A Review | 2016

Global M&A Regional Review

? Global merger and acquisition activity reached $3.6 trillion, representing a 10.5% decrease year-onyear. October deal-making reached a record high monthly volume of $505.8 billion. AT&T Inc's acquisition of Time Warner Inc for $107.1 billion was the largest deal for both the month and year.

? The financial sector continued to be the most targeted with $696.4 billion in announced transactions, accounting for 19.1% of the total global volume for the year. The basic materials sector experienced the most growth with $321.5 billion in deal activity, a 51.3% increase from 2015. Bayer AG's announced bid for Monsanto Co contributed $65.7 billion to the basic materials sector's total.

? Deals with announced transaction values of over $1.0 billion accounted for 63.8% of the total deal activity in 2016. The consumer, non-cyclical sector was the most sought-after for mega-deals, contributing $357.5 billion to the total volume.

Global M&A: Premium Breakdown

5% 2% 2%

0-10%

18%

10-25%

25-50%

50-75%

44%

29%

75-100%

100%+

Global M&A: Highlights of 2016

Summary Number of deals Volume (Bln.) Avg Deal Size (Mln.)

39,664 $3,591.0

$90.5

Date 10/22/2016 5/18/2016

Target Time Warner Inc

Monsanto Co

Acquirer AT&T Inc

Bayer AG

Top Adviser Goldman Sachs & Co Number of deals Volume (Bln.) Avg Deal Size (Bln.)

10/21/2016

Reynolds American Inc

309 $876.3

$2.8

11/21/2016 2/3/2016

Energy Transfer Partners LP Syngenta AG

British American Tobacco PLC Sunoco Logistics Partners LP China National Chemical Corp

Total Value

Seller

(Mln.)

-

$107,130.8

-

$65,695.7

-

$58,256.1

-

$51,381.6

-

$46,311.7

Global M&A: Industry Breakdown

Amount

% YoY

Industry

(Bln.) % of Total Change

Financial

$696.4

19.1% -15.3%

Consumer Non-cyclical $568.2

15.6% -38.6%

Communications

$415.0

11.4% -5.0%

Consumer Cyclical

$360.2

9.9% 14.5%

Energy

$357.2

9.8% -3.7%

Technology

$346.6

9.5%

0.4%

Industrial

$338.4

9.3% -23.4%

Basic Materials

$321.5

8.8% 50.2%

Utilities

$202.5

5.6% 87.9%

Diversified

$39.7

1.1% -46.0%

$1,400 $1,200 $1,000

$800 $600 $400 $200

$0 2011 Q4

Global M&A: Quarterly Volume

2012 Q4

2013 Q4

2014 Q4

2015 Q4

Volume $(Bln.)

Deal Count

Quarterly Volume represents any involvement (target, seller, or acquirer).

12,000 10,000 8,000 6,000 4,000 2,000 0 2016 Q4

Global M&A: Deal Type Breakdown

Amount % Change % Change

Deal Type

(Bln.) Deal Count Volume

Company Takeover

$2,269.7

-0.5% -12.3%

Cross Border

$1,584.9

2.5% -0.3%

Private Equity

$735.6

-1.9% -9.4%

Asset Sale

$566.2

5.7% -13.8%

Tender Offer

$335.3

3.2% 55.5%

Venture Capital

$115.0

-5.8% -2.7%

Spin-off

$68.4

-5.3% -35.2%

Minority Purchase

$390.2

2.1%

4.4%

Majority Purchase

$268.9

-0.9% 17.8%

3

Global Announced Deals

FIRM Goldman Sachs & Co Morgan Stanley JPMorgan Chase & Co Bank of America Merrill Lynch Citigroup Inc Barclays PLC Credit Suisse Group AG Lazard Ltd UBS AG Deutsche Bank AG Evercore Partners Inc Centerview Partners LLC RBC Capital Markets Rothschild & Co Perella Weinberg Partners LP Allen & Co Inc China International Capital Corp Ltd HSBC Bank PLC Macquarie Group Ltd Qatalyst Partners LLC TOTAL

RANK 1 2 3 4 5 6 7 8 9

10 11 12 13 14 15 16 17 18 19 20

MKT SHR (%) 24.4 23.8 20.2 19.7 15.1 14.8 14.0 10.0 9.5 9.3 8.2 6.1 5.4 5.3 4.8 4.0 3.7 3.1 3.0 2.7

2016 VOLUME USD

(Mln) 876,257 855,355 723,734 708,417 540,689 532,183 503,366 360,131 339,478 333,656 295,256 219,269 193,142 188,984 170,769 143,399 134,385 110,456 107,119 97,812

3,590,992

DEAL COUNT

01/01/2016 - 12/31/2016

2015

MKT SHR MKT SHR

RANK (%)

CHANGE

309

1

30.5

-6.1

290

2

27.6

-3.8

302

3

25.4

-5.2

216

4

22.2

-2.4

205

6

16.5

-1.5

199

8

13.9

1.0

205

5

18.4

-4.4

223

7

16.1

-6.1

149 11

8.6

0.9

144

9

12.6

-3.3

146 13

6.9

1.3

34 10

10.6

-4.5

144 18

3.9

1.4

317 12

7.3

-2.0

20 19

3.6

1.2

10 23

2.5

1.5

37 26

2.3

1.5

64 20

3.4

-0.3

88 27

2.1

0.9

10 55

0.5

2.2

39,664

4,006,843

Global Private Equity Announced Deals

2016

MKT SHR VOLUME USD

FIRM

RANK (%)

(Mln)

Goldman Sachs & Co

1

20.8

152,916

JPMorgan Chase & Co

2

15.8

116,377

Morgan Stanley

3

15.1

110,947

Bank of America Merrill Lynch

4

12.9

94,565

Credit Suisse Group AG

5

12.4

90,892

Barclays PLC

6

12.3

90,125

Citigroup Inc

7

10.4

76,278

Deutsche Bank AG

8

9.7

71,314

UBS AG

9

9.1

66,779

RBC Capital Markets

10

8.2

60,109

Lazard Ltd

11

5.7

42,069

Jefferies LLC

12

5.5

40,377

Macquarie Group Ltd

13

5.5

40,360

Rothschild & Co

14

4.9

36,165

Ernst & Young

15

3.4

25,125

Evercore Partners Inc

16

3.0

22,291

Gresham Partners Ltd

17

2.7

19,673

KPMG Corporate Finance LLC

18

2.2

16,262

Centerview Partners LLC

19

2.1

15,288

Wells Fargo & Co

20

2.1

15,106

TOTAL

735,257

DEAL COUNT

01/01/2016 - 12/31/2016

2015

MKT SHR MKT SHR

RANK (%)

CHANGE

117

3

18.7

2.1

103

1

22.9

-7.1

108

2

19.2

-4.1

66

4

17.5

-4.7

84

8

11.2

1.2

84

6

12.6

-0.3

74

5

15.0

-4.7

56

7

11.4

-1.7

54 10

6.2

2.9

50 12

5.7

2.5

101 17

3.5

2.2

79 18

3.5

2.0

27 14

4.0

1.5

148 13

5.4

-0.5

78 31

1.3

2.1

54 26

1.8

1.3

6 63

0.3

2.4

96 35

0.9

1.3

8

9

6.6

-4.5

26 11

5.8

-3.7

11,057

811,469

Cross Border Announced Deals

FIRM Goldman Sachs & Co Morgan Stanley JPMorgan Chase & Co Credit Suisse Group AG Bank of America Merrill Lynch Lazard Ltd Barclays PLC UBS AG Deutsche Bank AG Citigroup Inc Rothschild & Co Centerview Partners LLC Evercore Partners Inc RBC Capital Markets HSBC Bank PLC Macquarie Group Ltd China International Capital Corp Ltd Ducera Partners LLC BMO Capital Markets Perella Weinberg Partners LP TOTAL

RANK 1 2 3 4 5 6 7 8 9

10 11 12 13 14 15 16 17 18 19 20

MKT SHR (%) 34.5 30.6 23.1 22.0 19.4 16.2 16.2 14.7 13.4 10.8 9.9 9.4 7.4 5.8 5.7 5.4 4.5 4.2 3.9 3.8

2016 VOLUME USD

(Mln) 545,945 484,312 366,489 348,330 308,141 256,377 255,974 233,049 212,730 170,527 156,716 148,885 116,420 92,484 89,556 85,425 71,317 65,696 61,385 60,485

1,584,781

DEAL COUNT

01/01/2016 - 12/31/2016

2015

MKT SHR MKT SHR

RANK (%)

CHANGE

177

2

32.1

2.4

156

3

29.4

1.2

161

1

36.7

-13.6

114

7

19.7

2.3

120

4

29.0

-9.5

142

5

21.0

-4.8

98

6

19.8

-3.6

86 16

7.0

7.8

83

8

19.5

-6.1

112 11

12.5

-1.8

228

9

13.6

-3.7

13 13

9.9

-0.5

53 17

4.5

2.8

58 22

2.5

3.3

47 18

4.0

1.7

50 25

2.1

3.3

10 37

1.2

3.3

1

-

-

4.2

25 27

1.6

2.3

7 14

8.1

-4.3

14,828

1,589,159

4

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download