$4.1 billion bid for Bourbon SA of France pushes ENERGY & POWER M&A up 1%
This week's $5.5 billion offering from Exxon Mobil brings debt capital markets activity in the energy & power sector to $107.7 billion this year, a 2% increase compared to last year at this time.
The United States, Brazil and France account for 55% of year-to-date activity, up from 44% a year ago. HSBC and JP Morgan lead the DCM bookrunner rankings in the sector with 6.9% and 6.8% market share, respectively. Citi rounds out the top three, down from first place a year ago
Greenland Holding's $10.1 billion reverse merger with Shanghai Jinfeng Investment Co pushes China target M&A activity to $43.5 billion, up 39% compared to year-to-date 2013
Worldwide M&A in the telecommunications sector hits $57.3 billion with Vodafone's $10.0 billion bid for Spain's ONO, up 98% compared to last year. Deutsche Bank, which has advised on Vodafone/ONO, Deutsche Telekom's acquisition of a remaining stake in T-Mobile's Czech Republic unit and the competing bids for France's SFR, holds the top spot for worldwide financial advisory in the telecom sector this year
Mercuria Energy Group's offer for JP Morgan's physical commodities business adds $3.5 billion to the volume of worldwide financial sector M&A for year-to-date 2014, a 14% decline compared to a year ago and the slowest period for deal making in the sector in two years
This week's $933.6 million follow-on offering from ING US Inc brings year-to-date follow-on activity from companies in the United States to $30.9 billion, down 28% compared to a year ago and the slowest year-to-date since 2010. Bank of America Merrill Lynch, which led the ING offering along with Morgan Stanley, Goldman Sachs and Citi, leads US follow-on underwriting with 12.1% market share, an increase of 2.0 points compared to last year at this time.