Here's Thomson Reuters' overview of the week in M&A, capital markets and syndicated loans.
Record Media And Entertainment M&A
After this week's $13.7 billion unsolicited bid for UK-based British Sky Broadcasting Group by News Corporation, US acquisitions of European media and entertainment companies are at the highest level since 2007. This is the second largest acquisition of a European media company by a US acquirer on record since the 2007 acquisition of Reuters Group PLC by Thomson Corporation.
With 11 unsolicited acquisitions in Europe so far in 2010 and a total value of $35 billion this is the highest year-to-date level of European unsolicited acquisitions since records began.
Biggest Week For US IPOS Since 2009
With four IPOs so far this week, including a $588 million offering from Oasis Petroleum and a $390 million offering from the Chicago Board Options Exchange this has been the largest week for US IPO's by value since December 13, 2009.
The total value of IPOs in the United States this year has reached $7.7 billion, the best start by value since the same period in 2008, up nearly three-fold from 2009 levels. With 52 US IPOs so far this year, the number of US IPOs is up over four times and this is the highest year-to-date total since 2007. Offerings from the financials and energy and power sectors account for 46% of all US IPO activity this year.
US Consumer Staples Follow-Ons Up 83%
Bolstered by the $729 million follow-on offering from US clothing manufacturer Polo Ralph Lauren Corporation, secondary offerings in the consumer staples sector are up 83% in the United States from the same period last year and overall global activity in the equity capital markets for the industry is up 15% from 2009.
This offering is the largest from a consumer staples company in the United States this year which accounts for 19% of consumer staples follow-on offerings globally, compared to just 9% for the same period in 2009. Secondary offerings from Brazil in the sector total $1.7 billion and account for 21% of global activity, a record level.
Source - Thomson Reuters