U.S. Target M&A activity hits $2.0 trillion up 48% compared to a year ago
Worldwide Deal Making Tops $4.0 trillion as Number of Deals Over $5 billion Set All-Time Annual Record
Four M&A deals greater than $5 billion were announced this week, bringing the year-to-date aggregate total to 128, which bests the all-time annual record for deals over $5 billion set in 2007 (125) and pushed worldwide announced deal making activity past the $4 trillion dollar mark at the earliest point in any year since records began in 1980 and for just the second time in history.
Canada Pacific Railway’s $37.5 billion bid for US-based Norfolk Southern Corp topped the all-time list of Canadian acquisitions in the United States and brings Canada-US M&A activity to $104.1 billion so far this year, more than three times last year’s tally and the largest year-to-date period on record. Coupled with this week’s $13.4 billion tie-up between France’s Air Liquide and Airgas, the Canada Pacific deal boosted US Inbound cross-border M&A $423.3 billion, a 63% increase compared to a year ago and 10.5% of total announced worldwide M&A activity.
Goldman Sachs, Morgan Stanley and JP Morgan have all surpassed the $1 trillion dollar mark for global M&A financial advice so far this year, picking up significant market share points compared to a year ago. At the end of 2007, the current all-time annual record holder for worldwide deal making, five firms saw more than $1 trillion in advisory credit: Goldman Sachs, Morgan Stanley, Citi, JP Morgan and UBS.