• WW M&A activity totals $2.5 trillion, up 56% compared to YTD 2013
• Healthcare M&A totals $362.9 billion during YTD 2014, double last year's activity
• Global DCM activity increases 3% compared to year ago levels
• Technology ECM totals $60.9 billion during YTD 2014, up 65% compared to a year ago
• Australia DCM hits $114.4 billion so far in 2014, up 14% compared to last year
• Media DCM totals $165.6 billion during YTD 2014, up 11% compared to a year ago
Led by multi-billion dollar offerings from HSBC, Vodafone, BSkyB and Barclays weekly investment grade corporate debt issuance by companies based in the United Kingdom was propelled to an all-time record weekly total of $21.3 billion, which brings year-to-date UK corporate debt volume to $120.3 billion, a 72% increase compared to a year ago. Financial issuers, which account for 71% of year-to-date activity up from 53% during last year, join the consumer products and real estate with triple-digit percentage gains compared to year-to-date 2013.
FMC Corp's $1.8 billion purchase of the Denmark's Cheminova Agro A/S brings US outbound acquisitions in Europe to $190.7 billion during year-to-date 2014, nearly four times the levels seen last year at this time and the strongest year-to-date period for US/Europe M&A activity since records began in 1980.
The $3.3 billion bid for General Electric's appliance business by Sweden's Electrolux pushed European acquisitions of US companies/assets to $164.8 billion so far this year, nearly five times year-to-date 2013 announcements and the strongest period for Europe/US M&A activity since 2008 when InBev NV purchased Anheuser Busch for $60.4 billion and Roche Holding acquired a remaining stake Genentech for $46.7 billion.
Eastman Chemical's $2.7 billion bid for Taminco Corp brings the volume of worldwide deal making in the materials sector to $172.7 billion for year-to-date 2014, an 87% increase compared to last year at this time and the strongest year-to-date period for merger activity in the sector in two years. France and the United States account for a combined 50% of materials M&A this year followed by China and Peru. Deals in the sector have been evenly concentrated across metals & mining (32%), construction materials (30%) and chemicals (24%). Citi, which advised Eastman Chemical in this week's purchase, leads the year-to-date ranking for financial advisors in the materials sector, followed by Goldman Sachs and Credit Suisse.