A mergermArket report on globAl m&A Activity MONTHLY M&A INSIDER FebruAry 2010 CONTENTS GLOBAL OVERVIEW 01 AsiA-PaciFic 05 AmericAs: Latin AmericA 14 North AmericA 20 europe 28 middle eAst & AFricA 36 mergermarket MONTHLY M&A INSIDER Part of the mergermarket group www.mergermarket.com 80 strand 895 broadway #4 suite 2401-3 london, Wc2r 0rl new york, ny 10003 grand millennium plaza united kingdom usA 181 Queen’s road, central hong kong t: +44 (0)20 7059 6100 t: +1 212 686-5606 t: +852 2158 9700 f: +44 (0)20 7059 6101 f: +1 212 686-2664 f: +852 2158 9701
[email protected] [email protected] [email protected] GLOBAL OVERVIEW 01 GIVen the scALE And scope of the WORst economIC doWntuRN IN decAdes, IT IS of LIttLE SURPRISE THAT THE GLOBAL M&A MARKET SUFFERED BADLY IN 2009. A totAL OF 9,493 DEALS WORTH US$1.76TN CAME to THE MARKET OVER THE COURSE OF THE YEAR, REPRESENTING A DECLINE OF MORE THAN 25% IN TERMS OF Both DEAL VOLUME AND VALUE COMPARED to 2008 NUMBERS. Furthermore, global deal volume fell to the lowest level seen Elsewhere, private equity players have continued to be since 2003 while the average deal size of US$185m is way largely absent from the top end of the market with buyout down on the US$233m witnessed during the height of the activity generally retrenching to the mid and low-cap space. M&A boom in 2007. Understandably, large leveraged buyouts - along the lines of the mega deals that dominated the private equity driven Despite this, there are a number of encouraging signs M&A landscape in the years running up to the financial that the M&A market has reached inflection point with crisis - have been largely put on hold since the acute onset dealmaking conditions and market confidence slowly of the financial crisis.W hile private equity equity-related deal improving.